September 29, 2022
News

Student Debt Forgiveness (+ an Inflation Reduction Act Explainer)

The Inflation Reduction Act, signed into law last week, makes historic investments in our communities. Creating union jobs, taxing the rich, combatting climate change and lowering health care costs are at the forefront of the bill's goals.

If you want details on what else is in this historic bill, keep reading ⤵⤵⤵

Health Care

  • 13 million people will save an average of $800 per year on health insurance premiums.
  • Prevents premium hikes for people with Affordable Care Act coverage.

Prescription Drugs

  • Medicare can negotiate prescription drug costs, which can lower costs for millions of people.
  • Caps insulin costs at $35/month for Medicare beneficiaries.

Climate Change

  • Tax credits and rebates for working people making cleaner energy choices like electric vehicles and solar panels.
  • Invests billions of dollars in American manufacturing to create hundreds of thousands of good-paying union jobs.
  • Reduces greenhouse gas emissions by 1 gigaton in 2030.

And don’t forget that we will make sure rich people and large corporations finally pay their fair share of taxes.

It’s been a long fight — and there’s still plenty more to be done — but thanks to thousands of working people standing up in unison, we’ve made serious, tangible progress on climate, health care and the student debt crisis.

In addition to the Inflation Reduction Act, just today the Biden administration announced an historic student debt forgiveness and repayment capping plan that will ease the financial burdens faced by working class families.

When working people stick together, working people win.

In solidarity,

Team OPEIU

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