Things Biden and the Democrats did, this week #8
The Consumer Financial Protection Bureau finalized a rule capping credit card late fees at $8. The average fee was $32 dollars. This new rule will save the American public collectively $10 billion a year and on average $220 a year for the 42 million Americans effected. This comes on top of the administration's crack down on junk fees, analysis by the CEA found the administration will save Americans $20 billion on hidden fees in event tickets, internet and cable fees, apartment rentals, banking fees, auto dealer fees, and more. The FTC has put forward a rule that would ban hidden and surprise fees altogether and requires that prices be listed upfront when consumers make purchases.
The White House announced a new Strike Force on Unfair and Illegal Pricing, a joint effort by the Department of Justice and Federal Trade Commission to combat anti-competitive, unfair, deceptive, and fraudulent pricing. With the Covid related supply chain issues fixed and inflation falling companies are using tricks to keep charging high prices. Many Americans have experienced paying the same price for less product at the grocery store, referred to as "shrinkflation". President Biden called it out during the State of the Union and this Strike Force is part of an all of government effort to get prices down in line with where inflation really is.
the Federal Communications Commission has proposed a new rule banning bulk billing, where in landlords charged tenants of apartment buildings for internet, cable, or satellite services, even if they do not use it or opt into being billed
the Biden Administration announced actions that have prevented the collapse of Colorado River system. the Admin has saved at least 3 million-acre-feet of water in the Colorado River Basin through the end of 2026. The Admin also reached a deal with the State of California to secure more than 1.58 million acre-feet of water conservation through 2026. The Colorado River System pervades the drinking water and electric power for 40 million American and protecting it is key for the American west.
President Biden signed an Executive Order to expand apprenticeships. This builds on $440 million the administration has already invested in the Registered Apprenticeship system which supports more than a million apprentices across the country. This EO will push federal agencies to hire more through Registered Apprenticeships. The EO also reestablishes Labor Management Forums inside the federal government. Allowed to lapse in 2017 under President Trump LMF allow direct communication between management and unions to allow workers to have a voice.
The Administration has taken a number of actions to lower the price of health care. Medicare is now in the process of negotiating the price of 10 drugs with manufacturers, the first time in history Medicare has been able to negotiate these prices. The President is proposing Medicare be able to negotiate 50 such drug prices a year, saving the tax payer $200 Billion. Medicare Part-D has capped the yearly price of ALL medications at $2,000 saving 19 million seniors an average of $400, The President wants to expand this cap to all Americans. Thanks to tax credits in the American Rescue Plan and Inflation Reduction Act, millions of Americans are saving on average $800 a year on premiums, the President called on Congress at the State of Union to make these permanent. The President called for $12 billion in Women's Health Research to help close the historic gap in research into women's health needs. The President also wants to apply surprise billing protections to ground ambulance providers, meaning people won't have to worry about a bill for an ambulance ride
In line with the FDA's ruling in July as part of the administration's ongoing response to the overturn of Roe V Wade The first over-the-counter birth control pill will be available on pharmacy and store shelves nationwide and online later this month. Also in line with FDA rulings and at the insistence of the administration major pharmacies CVS and Walgreens will now offer the abortion pill mifepristone. This comes on top of the admins efforts to protect telehealth and by-mail access to medical abortion across the country.
At the State of the Union President Biden called for a compensation ceasefire in Gaza to release the hostages and bring in wide raging humanitarian aid. He declared that the ceasefire should be a first step on the path to lasting peace and a Two State Solution. the President also announced he would not wait for Hamas to agree to a ceasefire, which Israel already has in principle, to help the Palestinian People in Gaza. The US Navy will in the coming days build an emergency port off of Gaza which will allow a massive increase in humanitarian aid of all kinds into the strip.
The Administration has taken a number of actions to lower the cost of housing both for homeowners and renters. The Administration has added over 100,000 more additional households to rental rental assistance, and is calling on Congress to expand it more by half a million households. The President wants to expand  annual contributions to the Affordable Housing Program by 3.8 billion dollars to assist nearly 380,0000 households. the President wants to expand the Low-Income Housing Tax Credit to build or preserve 1.2 million more affordable rental units. The President is calling on Congress to pass a bill to give $25,000 in down payment assistance to first-generation homebuyers, which would help 400,000 families buy their very first home. The President also seeks tax credits for first time buyers and those selling their starter homes at under market value to owner-occupant, each of which would benefit over 3 million American families buying their first home
Bonus: Yesterday, March 7th 2024, Sweden formally joined NATO by depositing the paper work with the US State Department. Sweden's NATO membership came into force at a little after 11am EST. Sweden is NATO's 32nd member, it and neighbor Finland joined NATO as a reaction to Russia's 2022 invasion of Ukraine. The Prime Minster of Sweden, Ulf Kristersson, was President Biden's guest at the State of The Union where he welcomed Sweden to the Alliance and recommitted to NATO and harshly criticized former President Trump for undermining NATO and "bowing" to Putin