Wednesday marks the one-year anniversary of President Joe Biden’s signing inflation reduction act, Biden held a press event today with former House Speaker Nancy Pelosi and Senate Majority Leader Chuck Schumer to promote the legislation’s significant investment in energy and health costs. ,[This law is] This is one of the most important pieces of legislation that has ever been enacted into law,” Biden said, noting how Democratic lawmakers made it possible without any provisions Single Republican Vote, Biden highlighted environmental benefits The legislation as well as the manufacturing jobs created by investments in renewable energy.

Biden pointed to data that in addition to bringing inflation in the US to a level below the rest of the world, wages are also rising at a high rate. Biden talked about a question his father used to ask about policy and the economy. “How much is left after paying all the monthly bills?” the President asked. “How much do you have left after you pay everything, and at the end of the month, is that there.” [enough] To get a little breathing room?”

Related Story: Democrats Just Scored a Major Medicare Reform, Now They Need to Get Congress Together to Protect It

Answering questions from his father, Biden talked about the Inflation Reduction Act’s scrutiny on health care costs. “We are talking about life-saving steps to reduce health care costs. It implements lower health care premiums for millions of American families under the Affordable Care Act,” Biden said. The president then highlighted the very good news that “Medicare finally has the power to negotiate lower prescription drug prices,” and that under the new law drug companies will have to pay discount To cover any difference between their wildly high prices and the actual rate of inflation.

There’s a reason the pharmaceutical industry spends more than $375 million in 2022 Trying to beat inflation cut SCT. A new report from AARP’s Public Policy Institute shows that the cost of the top 25 Medicare Part D drugs (outpatient drugs) Covered increased by Medicare)226 percent on average“Much higher than the rate of inflation since entering the market. This price hike affects 49 million about 64 million Americans Treatment,

according to the White House reportsIf this new law went into effect in 2021, 3.4 million people with Medicare would have saved $243 million in out-of-pocket costs on vaccines alone. this is also the reason juneThe Pharmaceutical Research and Manufacturers of America lobbying group became the fourth industry group to sue to block enforcement of Medicare’s new drug price negotiation powers.

Biden and the Democratic Party should celebrate and explain this achievement every chance they get. He should also be sure to mention Big Pharma’s efforts to drain Americans’ savings. he was the one popular piece When this law passed and it will remain so, millions of Americans and millions more loved ones will see their prescription drugs become more affordable.

When the president finished his speech, he said something you’ll never hear a Republican say. “This is not about me, and I am saying this from the bottom of my heart,” Biden said. “It’s about you.”

Related Stories:

The Inflation Reduction Act Is Turning America Into a Renewable Energy Superpower

Yet another study confirms how much the Inflation Reduction Act would reduce US emissions

Biden signs historic Inflation Reduction Act

What happened while we were all on vacation? Something about Donald Trump being impeached not once, but twice! Also in the news: Florida Governor Ron DeSantis’ campaign fails. There is so much happening!

Leave a Reply

Your email address will not be published. Required fields are marked *