President Biden and Vice President Harris tout Medicare prescription drug price reductions in joint event

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ICARO Media Group
Politics
15/08/2024 20h05

In a show of unity and solidarity, President Joe Biden and Vice President Kamala Harris took the stage together at Prince George's County Community College in Maryland to address the public on their administration's efforts to alleviate costs for Americans, with a particular focus on lowering Medicare prescription drug prices.

The event marked the first joint appearance of Biden and Harris since the President exited the 2024 race and endorsed Harris as his successor atop the Democratic ticket. As they walked out to cheers from the crowd, they delivered remarks emphasizing the importance of affordable healthcare and the impact it has on the dignity and peace of mind of every individual.

One of the highlights of their discussion was the announcement made earlier in the day by the Department of Health and Human Services. The administration revealed that they had successfully reached an agreement on price negotiations for 10 commonly used drugs. This agreement is projected to save Medicare enrollees a staggering $1.5 billion in out-of-pocket costs once the new prices take effect in 2026.

During his speech, President Biden passionately emphasized his belief that healthcare should be a right, not a privilege in America. He acknowledged that the policy of lowering drug prices is not just about healthcare but also about providing families with additional breathing room and security.

Vice President Harris began her address by expressing her admiration for President Biden's dedication to expanding access to affordable healthcare. The crowd erupted into cheers of gratitude, chanting "Thank you, Joe!" Harris highlighted Biden's exceptional leadership on numerous issues related to healthcare and praised his commitment to improving the well-being of all Americans.

When it was his turn to speak, President Biden returned the praise to Vice President Harris, describing her as an incredible partner in advancing their shared goals. He expressed his determination to keep standing up to the influence of pharmaceutical companies, vowing to continue working against their unfair practices.

The accomplishment of negotiating drug prices for the first time in Medicare's history was made possible by the 2022 Inflation Reduction Act. This legislation enables the government to directly engage in price negotiations with drug manufacturers. In addition to the 10 drugs negotiated for 2026, the government will have the authority to select 15 more drugs for negotiation in 2027, and an additional 15 drugs in 2028. Furthermore, starting from 2029, the government will have the option to negotiate prices for up to 20 more drugs each year.

President Biden concluded his remarks by emphasizing that they were "just getting started" and vowed to continue their fight against the influence of the pharmaceutical industry. Vice President Harris proudly mentioned casting the tie-breaking vote to pass the Inflation Reduction Act in the Senate, demonstrating her commitment to ensuring every senior citizen can live with security, stability, and dignity.

The event concluded on a symbolic note, as both President Biden and Vice President Harris clasped their hands together and raised them in the air, symbolizing their shared determination and unity before leaving the stage.

While Vice President Harris is set to make her own campaign remarks in North Carolina about her economic platform to address rising living costs, she showed strong alignment with President Biden's agenda during this joint event. When asked if he would be bothered if Harris shifted away from his economic policies, President Biden expressed confidence that she would not, as they continue to share the same vision.

In an upcoming proposal, Vice President Harris will call for a federal ban on corporate price-gouging on food and groceries. Her plan also includes empowering the Federal Trade Commission and state attorneys general to investigate and penalize companies that violate these new rules.

President Biden's remarks also echoed his commitment to the American people by criticizing former President Donald Trump's proposed changes to healthcare policies. Referring to Project 2025, a conservative plan to overhaul the federal government, Biden vowed to beat back any attempts to repeal Medicare's power to negotiate drug prices, emphasizing the need to hold pharmaceutical companies accountable.

As the Biden-Harris administration continues to prioritize affordable healthcare, this joint event served as a strong demonstration of their unwavering dedication to ensure that every American has access to quality care while alleviating the burden of exorbitant prescription drug costs.

The views expressed in this article do not reflect the opinion of ICARO, or any of its affiliates.

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