Congressman Troy A. Carter, Sr. of Louisiana Announces that Inflation Reduction Act Already Reducing Costs for Families

Louisiana – On October 12, 2022, Congressman Troy A. Carter, Sr. of Louisiana released new data on the impact of the historic Inflation Reduction Act, which he and his Democratic colleagues sponsored to reduce healthcare costs.

With Congressman Carter’s backing, the Inflation Reduction Act was passed in August. It reduces food expenses for working people in Louisiana’s Second Congressional District. The landmark act requires pharmaceutical corporations to negotiate lower prescription medication prices, caps insulin at $35 per month for Medicare beneficiaries, and reduces health insurance premiums for millions of Americans.

“I know that life-saving prescription drugs and health care costs are just too high, which is why I voted with my fellow Democratic colleagues to pass this transformational legislation,” said Congressman Carter. “With the Inflation Reduction Act, we are continuing to put People Over Politics by lowering drug costs and expanding access to affordable health care coverage for all Louisianians…”

According to the Joint Economic Committee, Congressman Carter’s support for the Inflation Reduction Act:

• 14,000 people in Congressman Carter’s Congressional district are accessing more affordable health care coverage, and the legislation brought down annual ACA premiums in Louisiana by an average of $1,020.
• 118,000 seniors in Congressman Carter’s Congressional district will soon pay less for their medications, including having out-of-pocket costs capped at $2,000 a year and paying no more than $35 per month for insulin.

The Congressman indicated that Republicans opposed this critical, cost-saving legislation, which received no Republican votes in either the House or the Senate.

Carter also indicated that Democrats are laser-focused on fighting inflation and lowering costs for America’s working families.