Democrats Lower Costs, Extreme MAGA Republicans Raise Prices
Mar 22, 2023
President Biden, Congressional Democrats Lower Costs, Give Families More Breathing Room
- Lower health care costs by extending enhanced ACA tax credits enacted in the American Rescue Plan Act that lowered health insurance premium costs by an average of $800 each year. The Budget also provides Medicaid-like coverage to low-income individuals in states that have not adopted Medicaid expansion under the ACA.
- Lower prescription drug costs by expanding Medicare’s negotiation power to more drugs sooner, requiring drug companies to pay rebates to commercial insurance when they raise prices faster than inflation, and capping the price of insulin products at $35 for all Americans.
- Cut child care costs and empower states to increase child care options for more than 16 million children; expand a tax credit encouraging businesses to provide child care benefits.
- Guarantee free, high-quality preschool to every four-year old in the United States and increase funding for Head Start by more than $1 billion over FY23 appropriations.
- Lower housing costs by increasing the supply of affordable housing, expanding rental assistance to an additional 50,000 households, reducing borrowing costs for new homeowners, and lowering utility bills by providing $4 billion for the Low Income Home Energy Assistance Program (LIHEAP).
- Make college more affordable by increasing the maximum Pell Grant by $500,expanding free community college, and providing two years of subsidized tuition for students from families earning less than $125,000 annually enrolled in HBCUs, TCCU, or MSI.
- Lower costs on everyday goods by making smart investments that strengthen supply chains and modernize port and waterway infrastructure to help address cost pressures.
- Deliver critical nutrition assistance for millions of families and invests $15 billion to enable more states and schools to provide free school meals to an additional 9 million children.
- Cut taxes for working families by extending the enhanced Child Tax Credit and Earned Income Tax Credit while honoring President Biden’s promise to not raise taxes on anyone earning less than $400,000 a year.
Extreme MAGA Republicans Raise Prices, Make Life Harder for Working Americans
- Increase taxes on middle-class families with a 30 percent flat tax on all goods, from the grocery store to the gas pump, adding nearly $10 trillion to the deficit over 10 years.
- Eviscerate vital programs that help Americans put food on the table, stay in their homes, reduce the cost of child care and public education, and access affordable health care, with draconian cuts of up to one hundred percent, potentially eliminating lifeline programs including:
- The Supplemental Nutrition Assistance Program (SNAP), which feeds 41 million people and the WIC program, which feeds 6.5 million people.
- Child Nutrition Programs, which provide school lunches to 30.1 million children.
- LIHEAP, which lowers the cost of home energy bills for 4.9 million households.
- Pell Grants, which help 6 million students afford college each year.
- Head Start, which assists more than 800,000 children and expecting moms each year.
- Repeal reforms that lower prescription drug prices, raising costs for seniors while giving Big Pharma a windfall and adding $200 billion to the deficit.
- Raise health care costs by repealing the enhanced ACA premium tax credits enacted in the American Rescue Plan Act that saved families hundreds of dollars each year.
- Kick millions of Americans off their health insurance by decimating Medicaid, which provides health coverage to 84.8 million people, and the Children’s Health Insurance Program, which provides health coverage to approximately 7 million children.
- Quash efforts to extend the expanded Child Tax Credit, which gave families with children under 18 a monthly tax cut and cut child poverty by nearly half in 2021.
- Subsidize the super wealthy and big corporations with trillions in tax handouts, exploding the deficit with no measurable economic benefit to middle class families.