UTICA, N.Y. (WUTR/WFXV/WPNY) – Senate Majority Leader Chuck Schumer recently helped to pass the Inflation Reduction Act, which he says will have a significant positive impact on Upstate New York.
As part of this bill, Schumer says over 3.7 million New Yorkers on Medicare will have their healthcare made more affordable, that utility bills will be lowered for all, and tax loopholes for big corporations will be closed.
According to the New York Democrat, this will also help to fight the climate crisis, create new clean energy jobs, and more.
And another huge aspect of this bill that many are looking forward to is the $35 price cap put on insulin for Medicare members, and while the bill originally included a price cap on life-sustaining insulin also for those with private insurance, Republicans opted not to support this inclusion.
Senator Schumer explains his plan to get a cap for all, moving forward.
“Unfortunately, we tried to lower the cost for those on insurance as well,” said Schumer. “We needed 60 votes on that, we only got seven Republicans and all 50 Democrats, but were gonna come back in September, and try to do that again.”
And while the $35 cap on insulin did not trickle down to the private sector this time around, the Senator says the bill does ensure that companies cannot raise drug prices, for anyone, past the rate of inflation after they set their first price.