so, it s going to take some time for some of these providings to kick in, obviously. these are big provisions. specifically on prescription drugs. the $2,000 out-of-pocket cap doesn t start until 2025, we understand. medicare negotiation phasing in between 2026 to 29. how does this help americans in the immediate future? that s a great question and one of the important things about the way this bill was designed was to provide both immediate relief and also address long-standing challenges. for example, on immediate relief, this fall, 13 million americans will see lower health care premiums as a result of this bill. about $800 in savings. those benefits will go beyond those 13 million americans because it will mean more affordable health care coverage. people going into fall and winter can rest easier knowing they have access to health care. it takes on long-standing challenges of allowing medicare to negotiate for prescription drug prices, which will take some time. we
debating the idea of allowing medicare to negotiate for prescription drug price, but it will mean millions of americans can actually access those prescriptions they need at lower costs. we ve been trying for decades to address the climate crisis in the way we need. what that means for families is lower energy costs, lower utility bills. this bill now heads to the house of representatives. president joe biden could sign it into law as early as friday. we will have much more on the impact of this proposed legislation in just a moment. hugely consequential weekend. president biden and the first lady headed to kentucky this morning. the two are expected to visit flood-ravaged parts of the state. they will speak with families devastated by these storms. we know at least 37 people were killed after heavy rain led to widespread flooding last week. rescue workers continue to search for the missing. let s begin, though, this morning with president biden s major legislative win.