{"id":1049085,"date":"2024-10-22T17:08:14","date_gmt":"2024-10-22T21:08:14","guid":{"rendered":"https:\/\/democrats.org\/?p=1049085"},"modified":"2024-10-22T17:08:15","modified_gmt":"2024-10-22T21:08:15","slug":"thanks-to-the-biden-harris-administration-americans-are-saving-nearly-1-billion-on-prescription-drug-costs","status":"publish","type":"post","link":"https:\/\/democrats.org\/news\/thanks-to-the-biden-harris-administration-americans-are-saving-nearly-1-billion-on-prescription-drug-costs\/","title":{"rendered":"Thanks to the Biden-Harris Administration, Americans are Saving Nearly $1 Billion on Prescription Drug Costs"},"content":{"rendered":"\n

Today, the Biden-Harris administration announced 1.5 million Americans have saved nearly $1 billion on prescription medication under the Inflation Reduction Act. In response, <\/em>DNC Spokesperson Aida Ross released the following statement: <\/em><\/strong><\/p>\n\n\n\n

\u201cToday\u2019s announcement shows once again that the Biden-Harris administration\u2019s historic Inflation Reduction Act is game-changing legislation that continues to deliver for the American people, including saving 1.5 million people with Medicare nearly $1 billion in drug costs this year alone. President Biden and Vice President Harris are taking on Big Pharma and winning \u2014 they\u2019ve cut the price of prescription drugs, brought down the cost of insulin to $35 a month for seniors, and capped out-of-pocket costs. While Donald Trump is threatening to rip away health care and gut seniors\u2019 hard earned benefits, President Biden, Vice President Harris and Democrats up and down the ballot are fighting to protect access to quality, affordable health care for every American.\u201d<\/p>\n\n\n\n

Thanks to the Biden-Harris administration, 1.5 million Americans have saved nearly $1 billion on prescription drug costs in the first half of 2024. <\/strong><\/p>\n\n\n\n

U.S. Department of Health and Human Services<\/a>: \u201cToday, the Department of Health and Human Services (HHS), through the Office of Assistant Secretary for Planning and Evaluation (ASPE), released new data showing that nearly 1.5 million people with Medicare Part D saved nearly $1 billion in out-of-pocket prescription drugs costs in the first half of 2024 because of the Biden-Harris Administration\u2019s Inflation Reduction Act.<\/strong>\u201d<\/p>\n\n\n\n

The Hill<\/a>: \u201cA $35 monthly cap on insulin costs for Medicare beneficiaries went into effect at the start of 2023. Both Biden and Vice President Kamala Harris have spoken in favor of expanding this cap to include everyone.\u201d<\/p>\n\n\n\n

CBS<\/a>: \u201cThe savings are a result of the cap on out-of-pocket drug costs put in place by the Inflation Reduction Act, a signature piece of legislation the president signed into law in 2022. The law capped out-of-pocket drug costs for Medicare beneficiaries at $3,500 per year, and next year the cap will go down to $2,000 per year.\u201d<\/p>\n\n\n\n

Donald Trump, JD Vance, and their MAGA allies have railed against the Inflation Reduction Act, and their Project 2025 agenda includes repealing the landmark legislation.<\/strong><\/p>\n\n\n\n

Business Insider<\/a>: \u201cFormer President Donald Trump on Friday slammed the Democratic-led climate, health, and tax bill, arguing that Republican Senate Minority Leader Mitch McConnell of Kentucky was \u2018taken for a ride\u2019 by Sen. Joe Manchin of West Virginia.\u201d<\/strong><\/p>\n\n\n\n

Politico<\/a>: \u201cVance has said that he would like to get rid of much of the Inflation Reduction Act.\u201d<\/strong><\/p>\n\n\n\n

Project 2025<\/a>: \u201cSupport repeal of massive spending bills like the Infrastructure Investment and Jobs Act (IIJA) and Inflation Reduction Act (IRA).\u201d<\/strong><\/p>\n\n\n\n

WBUR<\/a>: \u201cProject 2025 also calls for the repeal of the 2022 Inflation Reduction Act.\u201d<\/strong><\/p>\n\n\n\n

Business Insider<\/a>: \u201cProject 2025 and the elimination of the Inflation Reduction Act have been championed by several conservative organizations, all led by the Heritage Foundation, a major conservative think tank.\u201d<\/p>\n\n\n\n

Vance<\/a>: \u201cI think there\u2019s a lot of bad policy in [the IRA]. \u2026 And I\u2019d like to see a lot of it gotten rid of.\u201d<\/p>\n\n\n\n

Vance<\/a>: \u201c[The IRA is] dumb, does nothing for the environment and will make us all poorer.\u201d<\/p>\n\n\n\n

Heartland Signal<\/a>: \u201cJD Vance opposes [the Inflation Reduction Act\u2019s] electric vehicle tax credits that will bring manufacturing, thousands of new jobs to Ohio\u201d<\/p>\n\n\n\n

Center for American Progress<\/a>: \u201cProject 2025 Prescription Drug Plan Would Increase Costs for as Many as 18.5 Million Seniors and Others With Medicare\u201d<\/p>\n\n\n\n

White House Fact Sheet<\/a>: \u201cThe Republican Budget would side with Big Pharma to increase drug prices and seniors\u2019 out-of-pocket costs by repealing the Inflation Reduction Act.<\/strong><\/p>\n\n\n\n

\u201cMedicare would no longer be able to negotiate lower drug prices. Big Pharma would once again be allowed to set whatever price they want, leaving seniors and taxpayers on the hook and facing higher prices.<\/strong><\/p>\n\n\n\n

\u201cBig Pharma would no longer pay Medicare back when they increase drug prices faster than inflation, allowing them to jack up prices with no accountability.<\/p>\n\n\n\n

\u201cSeniors would go back to paying up to $400 for insulin, instead of the $35 price cap per monthly insulin prescription they have today.\u201d<\/strong><\/p>\n\n\n\n

Trump has opened the door to cutting Medicare if reelected, after proposing cuts as president. <\/strong><\/p>\n\n\n\n

Joe Kernen, CNBC<\/a>: \u201cHave you changed your outlook on how to handle entitlements, Social Security, Medicare, Medicaid?\u201d<\/p>\n\n\n\n

Trump: \u201cSo first of all, there is a lot you can do in terms of entitlements, in terms of cutting.\u201d<\/strong><\/p>\n\n\n\n

Vox<\/a>: \u201cTrump just opened the door to Social Security cuts. Take him seriously.\u201d<\/strong><\/p>\n\n\n\n

Forbes<\/a>: \u201cTrump Floats \u2018Cutting\u2019 Spending On Entitlements Like Social Security And Medicare\u201d<\/strong><\/p>\n\n\n\n

Rolling Stone<\/a>: \u201cTrump Floats Cuts to Social Security and Medicare\u201d<\/p>\n\n\n\n

CNN<\/a>: \u201cTrump now says he\u2019s open to entitlement cuts, including Medicare\u201d<\/strong><\/p>\n\n\n\n

\u201cThe administration\u2019s fiscal 2020 budget proposed cuts to Medicare and Social Security.\u201d<\/p>\n\n\n\n

CNN<\/a>: \u201cFormer President Donald Trump once backed raising the retirement age to 70 and called for privatizing Social Security which he called a \u2018Ponzi scheme\u2019<\/strong><\/p>\n\n\n\n

\u201c\u2018We can also raise the age for receipt of full Social Security benefits to seventy,\u2019 he wrote.\u201d<\/p>\n\n\n\n

Mediaite<\/a>: \u201cDuring a Fox News town hall, President Donald Trump promised to cut entitlements like Medicare and Social Security if he were to win a second term.<\/strong> \u2026 \u2018But if you don\u2019t cut something in entitlements, you will never really deal with the debt,\u2019 town hall co-moderator Martha MacCallum interjected, alluding to social safety programs like Medicare, Medicaid, and Social Security. \u2018Oh, we\u2019ll be cutting,\u2019 Trump rushed to confirm.\u201d<\/strong><\/p>\n\n\n\n

Washington Post<\/a>: \u201cHis avowed stance, however, is at odds with Trump\u2019s own record as president: Each of his White House budget proposals included cuts to Social Security and Medicare programs.\u201d<\/strong><\/p>\n\n\n\n

Vox<\/a>: \u201cTrump said he wouldn\u2019t cut Medicaid, Social Security, and Medicare. His 2020 budget cuts all 3.\u201d<\/strong>

Trump\u2019s FY18<\/a>, FY19<\/a>, FY20<\/a>, and FY21<\/a> budgets each proposed billions of dollars in cuts to Social Security programs.<\/p>\n","protected":false},"excerpt":{"rendered":"

Today, the Biden-Harris administration announced 1.5 million Americans have saved nearly $1 billion on prescription medication under the Inflation Reduction Act. In response, DNC Spokesperson Aida Ross released the following statement:  \u201cToday\u2019s announcement shows once again that the Biden-Harris administration\u2019s historic Inflation Reduction Act is game-changing legislation that continues to deliver for the American people, […]<\/p>\n","protected":false},"author":263,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1049085","post","type-post","status-publish","format-standard","hentry","category-press-release"],"acf":[],"yoast_head":"\nThanks to the Biden-Harris Administration, Americans are Saving Nearly $1 Billion on Prescription Drug Costs - Democrats<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/democrats.org\/news\/thanks-to-the-biden-harris-administration-americans-are-saving-nearly-1-billion-on-prescription-drug-costs\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:site_name\" content=\"Democrats\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-22T21:08:14+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-10-22T21:08:15+00:00\" \/>\n<meta name=\"author\" content=\"Claire DePree\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Claire DePree\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/democrats.org\/news\/thanks-to-the-biden-harris-administration-americans-are-saving-nearly-1-billion-on-prescription-drug-costs\/\",\"url\":\"https:\/\/democrats.org\/news\/thanks-to-the-biden-harris-administration-americans-are-saving-nearly-1-billion-on-prescription-drug-costs\/\",\"name\":\"Thanks to the Biden-Harris Administration, Americans are Saving Nearly $1 Billion on Prescription Drug Costs - 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