Joe Biden Outlines Why He Thinks 2023 Will Be a ‘Nice Yr’

Estimated read time 3 min read

President Joe Biden took to Twitter on Sunday to stipulate why he thinks 2023 shall be an excellent yr for Individuals.

“Completely satisfied New Yr everybody,” the president tweeted because the clock struck midnight on New Yr’s Day. as a result of you’ll be able to.”

Biden started by mentioning that Medicare’s month-to-month cap on insulin prices for diabetics will go into impact on January 1.

The president tweeted, “Right now, Medicare subscribers shall be capped at $35 a month for insulin. ‘$35. That is it.’

In line with a 2020 evaluation by the Kaiser Household Basis (KFF), the availability will deliver aid to about 2 million Individuals who owe a median of $572 a yr out of pocket for insulin.

The insulin cap was included within the Inflation Discount Act, the Democratic landmark local weather change and well being care invoice that Biden signed into regulation final August.

“With this landmark laws, starting January 1, Individuals will start to profit from the extra cost-cutting measures of the Inflation Discount Act,” the president mentioned in a late December assertion posted on the White Home web site. would,’ he mentioned.

President Joe Biden leaves after a dinner in Christiansted, St. Croix on December 30. President Biden took to Twitter on Sunday to stipulate why he thinks 2023 shall be an excellent yr for Individuals.
AFP by Saul Loeb/Getty Pictures

Biden mentioned on Sunday that beginning Jan. 1, drug corporations that increase drug costs sooner than inflation must pay rebates to Medicare.

“We’re placing the brakes on how excessive and how briskly Huge Pharma can increase drug costs,” he wrote. You’ll face massive penalties.”

The president highlighted one other provision of the Inflation Discount Act, noting that Individuals can now obtain tax credit for putting in extra energy-efficient home equipment of their houses.

“Electrical ovens, photo voltaic panels, warmth pumps and extra. Get monetary savings whereas preventing local weather change.”

These within the automotive market can now additionally get tax credit for purchasing new or used electrical automobiles, Biden added.

The clear automobile tax credit score is offered “for individuals who buy and use a brand new eligible plug-in electrical automobile (EV) or gasoline cell automobile (FCV) after January 1, 2023 and meet sure earnings limits. and value as much as $7,500.” In line with the Inner Income Service (IRS).

Biden concluded in a Twitter thread: is simply starting. That is his 2023 and the work we shall be doing collectively. ”

Newsweek I’ve reached out to the White Home for additional remark.

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