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OFFICE OF
INTERGOVERNMENTAL AFFAIRS
October 08, 2023
President Biden Announces an Additional $9 Billion in Student Debt Relief for 125,000 Americans
President Biden has long believed that college should be a ticket to the middle class, not a burden that weighs on families. That’s why from day one, his Administration has taken unprecedented
steps to fix the broken student loan system, make college more affordable, and bring the promise of higher education in reach for more Americans.
Marking a key step forward in that effort, President Biden is announcing that an additional 125,000 Americans have been approved for $9 billion in debt relief through fixes his Administration
has made to income-driven repayment (IDR) and Public Service Loan Forgiveness, and by cancelling debt for borrowers with total and permanent disabilities. Today’s announcement brings
the total approved debt cancellation by the Biden-Harris Administration to $127 billion for nearly 3.6 million Americans.
The Biden-Harris Administration is announcing it has approved:
* $5.2 billion in additional debt relief for 53,000 borrowers under Public Service Loan Forgiveness programs.
* Nearly $2.8 billion in new debt relief for nearly 51,000 borrowers through fixes to income-driven repayment. These are borrowers who made 20 years or more of payments but never got
the relief they were entitled to.
* $1.2 billion for nearly 22,000 borrowers who have a total or permanent disability who have been identified and approved for discharge through a data match with the Social Security
Administration.
The Department of Education is also releasing state-by-state totals of debt relief approved under the Biden-Harris Administration through fixes to IDR and Public Service Loan Forgiveness.
Visit this link <https://whitehouse.us10.list-manage.com/track/click?u=f620288bb41dd81f9c715ef4d&id=aaf53d42ae&e=1b00b68fe6> to see the state-by-state breakdown.
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Biden-Harris Administration Announces Manufacturers Participating in Drug Price Negotiation Program
This week, the Biden-Harris Administration took another major step towards lower health care costs for seniors and families and announced that all manufacturers of all ten drugs selected
for negotiation have signed agreements to participate in the Inflation Reduction Act’s Medicare Drug Price Negotiation Program. For decades, Big Pharma fought to block Medicare from
directly negotiating lower drug prices for seniors and other Medicare beneficiaries, while nearly three in ten Americans struggle to afford their medications because of cost.
In total, the 10 drugs selected for negotiation accounted for $3.4 billion in out-of-pocket costs for an estimated 9 million Medicare enrollees in 2022. These drugs are used to treat
heart failure, diabetes, arthritis, cancers, blood clots, and other conditions.
Every day, millions of seniors are saving money on prescription drug costs because of the Biden Administration’s actions. People with Medicare are saving an average of $70 in out-of-pocket
costs on vaccines like shingles and Tdap because President Biden’s Inflation Reduction Act made recommended vaccines free for beneficiaries starting this past January. Nearly four million
seniors and others on Medicare with diabetes had their insulin costs capped at $35 per month this past January, saving some seniors hundreds of dollars for a month’s supply. And some
seniors taking drugs covered under Part B for which manufacturers have hiked prices faster than inflation are saving up to $618 in lower coinsurance this quarter thanks to the new Medicare
inflation rebates.
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The Biden-Harris Administration Kicks off Sprint to Catalyze Workforce Development Efforts
To launch the third Investing in America tour, the Biden-Harris Administration is hosting a White House convening to officially kick off its Advanced Manufacturing Workforce Sprint—an
intensive drive to build a diverse, skilled pipeline of workers for good jobs, including union jobs, in advanced manufacturing.
The nationwide sprint is bringing together employers, unions, education and training providers, community-based groups, philanthropic organizations, and state and local governments to
take concrete steps to help more Americans train for and succeed in this growing field. Over the next two weeks, as part of the third installment of the Investing in America tour, President
Biden and senior Administration officials will travel to communities across the country to highlight the impact of the President’s Bidenomics agenda—including how his Administration
is creating manufacturing jobs in industries of the future. To celebrate the official kickoff of the Investing in America tour and the Sprint, President Biden will deliver remarks marking
Jobs Day and National Manufacturing Day, citing the 800,000 manufacturing jobs created under his Administration. First Lady Jill Biden also visited Dutchess Community College in Fishkill,
New York to attend the launch of a new mechatronics training lab funded in part by the President’s American Rescue Plan.
The Advanced Manufacturing Sprint will continue beyond the Investing in America tour and through the end of 2023. The White House invites all interested organizations to join the Sprint
by submitting a commitment at this link <https://whitehouse.us10.list-manage.com/track/click?u=f620288bb41dd81f9c715ef4d&id=8a8175fb3c&e=1b00b68fe6> .
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Additional Information
Biden-Harris Administration to Kick Off Third Investing in America Tour
On Friday, October 6, on National Manufacturing Day, the Biden-Harris Administration will kick off another multi-week Administration-wide tour highlighting how Bidenomics and President
Biden’s Investing in America agenda is benefitting communities across the country.
The tour will feature President Biden, Vice President Harris, First Lady Jill Biden, Second Gentleman Douglas Emhoff, Cabinet members, and Senior Administration Officials making dozens
of stops in the coming two weeks to show how Bidenomics is growing the economy from the middle out and bottom up. This comes as Republicans in Congress continue to try to block President
Biden’s Investing in America agenda, try to repeal critical pieces of legislation that have created jobs and helped drive over $500 billion in private sector investments since the beginning
of his Administration, and oppose investments that are creating jobs and opportunities in their own districts. Throughout the tour, the Biden-Harris Administration will highlight the
split screen contrasting how President Biden is delivering for the American people, while Republicans in Congress try to push their extreme MAGAnomics agenda and failed trickle-down
policies of the past.
Over the course of the tour, President Biden and Administration leaders will make major announcements around infrastructure – made possible by the Bipartisan Infrastructure Law, private
sector investments driven by the Inflation Reduction Act, and highlight historic actions by the Biden Administration to combat climate change, advance environmental justice, and create
good-paying jobs in industries that will drive American competitiveness. The tour will also underscore that President Biden’s investments are leaving no community behind, and helping
cities and towns across America become centers of innovation, job creation, and opportunity. Learn more here. <https://whitehouse.us10.list-manage.com/track/click?u=f620288bb41dd81f9c715ef4d&id=73df
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Weekly IGA Call
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