Happening Now: President Biden and I are back in Maryland to announce lower prices for ten prescription drugs selected for Medicare price negotiation thanks to our Inflation Reduction Act. https://t.co/GEtxxtQo8j
— Vice President Kamala Harris (@VP) August 15, 2024
President Joe Biden and Vice President Kamala Harris celebrated a landmark deal to lower medication prices at a joint event in Prince George’s County, Maryland. The event marked Biden’s latest legislative achievement and Harris’s rise as the Democratic presidential nominee. “We finally beat big pharma,” Biden said.
He highlighted the administration’s success in negotiating lower drug prices under Medicare, the government health insurance plan for seniors. This was Biden and Harris’s first joint appearance since Biden announced his decision to withdraw from the re-election race.
.@KamalaHarris and @Tim_Walz are going to be a great President and Vice President.
Check out their full conversation: https://t.co/vq3CRbIVdf pic.twitter.com/TV2dzwmA8H
— Joe Biden (@JoeBiden) August 15, 2024
He endorsed Harris, calling her an “incredible partner” and saying she would “make one hell of a president.” The crowd chanted “Thank you, Joe” in appreciation.
Harris emphasized the historic nature of the deal. “We finally addressed the longstanding issue where Medicare was prohibited by law from negotiating lower drug prices,” she said. The new pricing model is expected to save Medicare $6 billion.
It’s been one week since @Tim_Walz joined @KamalaHarris’ campaign, which is inspiring folks across the country.
If we all work hard, in 84 days, we’ll be celebrating their victory. Let’s make it happen: https://t.co/Hy8C4mIL2M. pic.twitter.com/jnynGH7SMb
— Joe Biden (@JoeBiden) August 13, 2024
Seniors will see about $1.5 billion in direct out-of-pocket savings. The price changes will take effect in 2026. Biden noted that the administration had reached agreements with manufacturers of all 10 initial drugs selected for price negotiation.
These include widely used blood thinners and diabetes medications. The price reductions range from 40% to 80%. Retiring Maryland Senator Ben Cardin praised Harris for her role in passing significant health legislation.
Lowering medication costs for seniors
He hinted at her potential as the next President. Biden also took aim at potential Republican challengers.
He warned that former President Donald Trump would repeal Medicare’s authority to negotiate drug prices if given a second term. He criticized Trump’s conservative policy agenda and vowed to continue fighting for healthcare reforms. Republican lawmakers have criticized the deal.
They accuse the administration of “price-fixing” and predict it will stifle medical innovation. But the Biden-Harris administration defends the move as a crucial step toward making healthcare more affordable. The event in Maryland drew a large and enthusiastic audience.
This reflects widespread support for the deal among seniors and their families. Linda Hunt, an 80-year-old attendee, described the occasion as historic. The appearance by Biden and Harris underscored the administration’s commitment to battling high healthcare costs.
This is a key issue for voters leading up to the 2024 elections. Harris’s upcoming economic policy speech in North Carolina is expected to further highlight the administration’s achievements and plans for the future. As Democrats prepare for the election season, the landmark deal on drug prices stands as a significant achievement.
It promises substantial savings for American seniors and boosts Harris’s campaign prospects.
- TheGuardian.”Biden and Harris celebrate landmark deal to lower medication prices”.
- TheHill.”Morning Report — Harris, Biden unite; Trump defends his attacks”.
- MSNBC.”‘Could see the emotion’ on Biden’s face during first official event with Harris since dropping out”.