LETTER TO THE EDITOR: Thank you, President Biden
Published 11:07 am Friday, September 2, 2022
The Biden administration, working in collaboration with all of the Congressional Democrats and a small number of Republicans is implementing a variety of new legislation including: improving infrastructure and environment, creating new jobs, protecting Veterans, making gun use safer, reducing healthcare costs, and providing the less affluent with loan forgiveness. And oh yes, we will finally get large corporations, who pay little to no tax, to pay their fair share.
- American Rescue Plan:
- Provided stimulus checks for individuals and businesses during COVID
- The Bipartisan Infrastructure Investment and Jobs Act provides states $550B to:
- Modernize roads, bridges, railroads, airports, creating around 2M yearly jobs
- Install infrastructure for clean drinking water, broadband, and electric vehicle charging
- The Bipartisan Safer Communities Act provides safer gun legislation:
- Supports crisis intervention and school Trauma services
- Prevents domestic abusers from possessing guns
- Implements new gun trafficking laws
- Bipartisan PACT Act providing healthcare benefits for Veterans exposed to Agent Orange and Toxic burn piles.
- The Bipartisan CHIPS Act helps retain US jobs by providing $52B in subsidies and Tax Credits to semiconductor firms.
- Inflation Reduction Act raises taxes on wealthy corporations and helps reduce medical costs while reducing the deficit by $300B:
- Requires Corporations pay a 15% income tax for profits above $1B
- Lowers ACA health care costs, Caps Medicare Insulin cost at $35/mo., Allows Medicare to negotiate drug prices
- Provides free vaccines for Medicare recipients
- Caps out-of-pocket Medicare drug costs at $2,000 in 2025
- Makes historic US climate investment reducing carbon emissions roughly 40% by 2030 and providing $30B solar and wind tax credits
- Student Loan Forgiveness Executive Order:
- $20K forgiveness for lower income Pell Grant recipients which is about 2/3 of all federal education loans
Kudos to President Biden, Congressional Democrats, and a few Congressional Republicans!
MAJ USA (Ret.)