Lawsuit over insulin Prices
California announced on Jan. 12 its intention to sue major pharmaceutical companies for illegally inflating the price of insulin, according to a press release by Attorney General Rob Bonta. Insulin prices are 10 times higher in the U.S. than outside it. There are three companies responsible for the bulk of insulin produced in the U.S. The lawsuit argues that because competition is limited, companies are increasing prices to an unaffordable price. Without access to affordable insulin, diabetics face dangerous and even fatal health risks. People from low-income households and communities of color are disproportionately affected by these price hikes. The California government hopes the lawsuit will improve this issue.
U.S. to hit debt limit
The U.S. will hit its $31.4 trillion debt ceiling on Jan. 19, according to a letter written by Secretary of the Treasury Janet Yellen. Though the Treasury will begin taking “extraordinary measures” to manage U.S. funds, Yellen urged lawmakers to find a solution before the government defaults on its loans. Unless this borrowing limit is raised, the government will no longer be able to borrow money, which would have disastrous consequences on the U. S. economy. Ramifications could include a halt in Social Security checks and military service payments as well as public health funding.
California storm prompts Emergency Declaration
As a result of the intense winter storms, at least 68,000 Californians were without power on the morning of Jan. 14, according to poweroutage.us. That same day, 19 storm-related deaths were reported and notable property damage had occurred due to the fierce weather conditions after storms, flooding and mudslides ravaged the area for the past two weeks. President Joe Biden issued an emergency declaration for relief to supplement the local and state aid provided. Biden made federal aid available to those in the hardest hit areas, according to a White House press release. This aid comes in the form of temporary housing and home repairs. Low-income loans are also being provided on uninsured property. Work is already being done to remove hazardous waste and other debris to ensure Californians can return home as soon as possible. Teams are on the ground assessing the damage to maximize the state’s federal aid.
