WASHINGTON, DC – Today, President Biden signed the Inflation Reduction Act (IRA) into law. SEARAC applauds the enactment of the IRA, which addresses the increasing severity of the global climate crisis, extends premium healthcare tax credits for three years, and caps out-of-pocket expenses on prescription drugs for seniors.
“We celebrate the signing of this historic bill that will improve access to health coverage for many Southeast Asian American families, children, and elders,” said Quyên Đinh, SEARAC Executive Director. “By making healthcare coverage more affordable, the Inflation Reduction Act ensures that Southeast Asian American community members who depend on marketplace coverage can continue to access life-saving healthcare, particularly those with pre-existing conditions and chronic ailments. We also celebrate the IRA’s historic provision to allow Medicare to negotiate drug prices for the first time. This will undoubtedly benefit Southeast Asian Americans elders who rely on Medicare by ensuring they have access to more affordable medications. The IRA is a step towards universal healthcare for all and eliminating health disparities.”
