Improving Black health and wealth

Two years ago this month, the Inflation Reduction Act became law. Congressional Democrats and the Biden Harris administration championed this bill because we need an economy that works for working families. The COVID-19 pandemic hurt our country, affecting jobs and stretching our health care system. With the pandemic behind us, we are working towards a system that is better than before — addressing Black disparities in health and wealth through targeted measures like the Inflation Reduction Act. This landmark legislation is so impactful because it tackles both economic and health disparities that have hurt Black Americans over generations. Black Americans were disproportionately impacted by the pandemic. From March 2020 to January 2023, the virus hospitalized Black individuals at 2.1 times the rate of white Americans and Hispanic individuals at a rate of 1.8. Economically, & nearly half of Black adults said the economic impact of the pandemic would make achieving their financial goals harder in the long term. Since President Biden took office, the health care uninsured rate has reached a new historic low: 8% and 5.2 million Americans have gained health insurance coverage. The Inflation Reduction Act continues the American Rescue Plan’s more generous Affordable Care Act premium tax...