President Biden on Tuesday highlighted his administration’s efforts to lower prescription drug costs as he seeks to cement his legacy in his final months in office.
At an event in New Hampshire alongside Sen. Bernie Sanders (I-Vt.) and other Democrats, Biden spoke about the impact of the Inflation Reduction Act (IRA), including its cap on prescription drug costs and allowing Medicare to negotiate drug prices.
Biden called it a significant victory over the pharmaceutical industry.
“It was a hell of a fight,” Biden said. “We beat the special interests and delivered for the American people.”
The administration this year announced new negotiated prices for 10 of the most expensive drugs, though they won’t take effect until 2026. Biden also touted insulin costs for Medicare beneficiaries that are now capped at $35 per month.
Both Biden and Vice President Harris have spoken in favor of expanding this cap to include everyone.
Tuesday’s event comes two weeks before Election Day and less than three months before Biden leaves office.
During his remarks, Biden went off script and praised Harris, the Democratic nominee and his would-be successor, for her efforts to help pass the IRA.
“Kamala by the way, cast the tie-breaking vote,” Biden said. “Don’t tell me one vote doesn’t count.”
During the event, Biden also hit former President Trump for claiming he has “concepts of a plan” to replace the Affordable Care Act.
“I’ve heard that concept of a plan now for almost eight years. A concept of a plan. What the hell is a concept of a — he has no concept of anything! No plan,” Biden said.
Biden said Trump could kick tens of millions of people off their health insurance “if we don’t elect Kamala.”
Biden also called for Congress to permanently extend tax credits to tens of millions of ObamaCare enrollees to help them afford their premiums.
The subsidies were set to expire in 2022, but they were extended to 2025 as part of the IRA. Now, whoever controls Congress after the November elections will be able to decide whether to let them expire or seek to extend them permanently.
