No one should be denied access to economic opportunity simply because they experienced a medical emergency. Yet today, more than 100 million Americans struggle with medical debt - making it more difficult for them to be approved for a car loan, a home loan, or a small-business loan, which makes it more difficult for them to just get by, much less get ahead.
That is why President Biden and I have already forgiven over $650 million in medical debt - part of our overall plan to forgive $7 billion by 2026 - with support from our American Rescue Plan, legislation that I was proud to advance with my tie-breaking vote in the Senate. In addition to this, soon we will make it so medical debt can no longer be included in your credit score, impacting millions of Americans. Last month, I issued a call to states, cities, and hospitals across our nation to join us in forgiving medical debt.
I applaud North Carolina for setting an example that other states can follow by advancing a plan that has the potential to relieve $4 billion in medical debt for two million individuals and families. This critical step also strengthens financial assistance for emergency medical procedures moving forward.
As someone who has spent my entire career fighting to protect consumers and lower medical bills, I am committed to continuing to relieve the burden of medical debt and creating a future where every person has the opportunity to build wealth and thrive.
