Lower Costs
While Americans are struggling with high costs and inflation, progress has been made to build a stronger economy. Costa and House Democrats have taken action to fight inflation and lower costs for Americans. Costa is putting more money back in middle-class families' pockets, see what he has done to lower costs:
Healthcare Costs
No American should have to sacrifice their health and put their health at risk to afford life-saving medication. That is why Costa voted to enact the Inflation Reduction Act into law, which has lowered healthcare costs for hundreds of families in the Valley.
Capped insulin at $35 for Medicare recipients and those with disabilities – helping over 83,000 seniors in CA-21.
Capped out of pocket expenses for prescription drugs at $2,000 per year.
Cut health care premiums by $890 in CA-21 – average of $804 nationwide – helping over 25,000 residents.
FREE adult vaccines for Medicare beneficiaries and those with disabilities.
Thanks to the Inflation Reduction Act, Medicare is negotiating prescription drug costs for the first time in history. Forcing pharmaceutical companies to pay a penalty when the prices they charge Medicare, rise faster than inflation.
Lower Costs for Hearing Aids: When President Biden took office, he signed an executive order on Promoting Competition in the American Economy, this required the Food and Drug Administration (FDA) to make hearing aids available over the counter, without a prescription or exam. This will help nearly 30 million Americans with hearing loss and nearly 10 million adults under the age of 60, saving them $3,000 per pair. (MORE INFORMATION)
Internet Costs
Through the Bipartisan Infrastructure Law, the Affordable Connectivity Program (ACP) was created to bridge the digital divide by cutting $30 per month for eligible households nationwide. The program has cut monthly internet costs for 84,518 households in our district.
This has also provided households with a one-time discount of up to $100 to purchase a laptop, desktop computer, or tablet from participating providers. Learn more about eligibility and applying here, or visit getinternet.gov.
Social Security – Cost of Living Adjustment (COLA)
Social Security and Supplemental Security Income (SSI) benefits for more than 71 million Americans increased by 3.2 percent (average of $55) in 2024 – helping 87,699 seniors in our district.
The purpose of the COLA is to ensure that the purchasing power of Social Security and Supplemental Security Income (SSI) benefits is not eroded by inflation. It is based on the percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) from the third quarter of the last year a COLA was determined to the third quarter of the current year.
Tax Cuts for Families
At the height of the pandemic, Costa and House Democrats passed the American Rescue Plan, which expanded the Child Tax Credit (CTC) and put more money in parent’s pockets, while cutting the national child poverty rate in half.
Costa championed the CTC which helped over 215,000 children and delivered over $299 million to parents in our district. Now, Costa is fighting to build on these efforts by reauthorizing and expanding the CTC – which would help over 99,000 children in our district.
Energy Tax Credits
The Inflation Reduction Act is lowering energy costs by providing several tax credits to help American families save money and make improvements to their homes, and transportation methods.
Check out the following tax credits available:
Electric Vehicle (EV) Energy Tax Credit: You may qualify for a credit of up to $7,500 under Internal Revenue Code Section 30D if you buy a new, qualified plug-in EV or fuel cell electric vehicle (FCV). The Inflation Reduction Act of 2022 changed the rules for this credit for vehicles purchased from 2023 to 2032. To claim the credit and for more inflation, visit here.
Installing Rooftop Solar panels: Households can receive a tax credit to cover 30% of the costs of installing rooftop solar.
Lower Home Energy Costs: The Low-Income Home Energy Assistance Program (LIHEAP) provides federally funded assistance in managing costs associated with home energy bills, energy crises, weatherization, and energy-related minor home repairs. If you are a resident of Fresno County, apply here.
Making Energy efficient improvements: You may be eligible for a tax credit to cover up to 30% of the costs for certain efficiency improvements. These efficiency improvements include upgraded windows, doors, insulation, and other home weatherization services, or highly efficient heating and cooling appliances like heat pumps, central air conditioners, and water heaters.
Replacing heating or cooling systems: Households can claim a tax credit for 30% of the costs of buying and installing a heat pump, up to $2,000 including support for any electric system upgrades needed to make the home heat-pump-ready.
Gas Resources:
Find cheaper gas in California – Fueleconomy.gov
Find cheap gas near you - GasBuddy
Grocery and Food Resources:
Find Food Savings in your Area: Visit USDA Shop Simple with MyPlate App to find healthy food savings in your area.
WIC Benefits: The Special Supplemental Nutrition Program for Women, Infants, and Children (WIC) provide federal funding to states for supplemental foods, health care, and nutrition education, which is then provided to low-income pregnant, breastfeeding, and non-breastfeeding postpartum women, and to infants and children up to age 5 who are found to be at nutritional risk. Apply for WIC benefits, here.
SNAP Benefits: CalFresh helps eligible, low-income individuals to purchase the food they need to have good health. Applications are available in person and online. To apply for benefits, click here.
USDA Meals for Kids Site Finder: Through USDA's summer meal programs, approved sites in communities across the country can serve meals to kids up to age 18 at no cost. Families can use this tool to find directions to nearby meal sites, as well as their hours of operation and contact information. Click here for more information.