Vice President Kamala Harris joined President Joe Biden on Thursday to announce a deal to lower drug prices in their first joint public appearance since she replaced him at the top of the Democratic ticket.
Inflation hit another record low this week, now sitting at 2.9%. But both the President and Vice President are still focused on assuring voters that costs will continue to trend down after years of above-normal inflation.
"Today, the Biden-Harris Administration is delivering on its promise to lower out-of-pocket drug costs for seniors and save money for Americans," reads a statement from the White House. "That’s because Medicare has the power to negotiate prescription drug prices for the first time in history thanks to the Inflation Reduction Act, which was signed into law by President Biden with Vice President Harris casting the tie-breaking vote."
The Department of Health and Human Services (HHS) announced they have reached agreements with all participating manufacturers on the newly negotiated lowered drug prices for 10 drugs selected to be the first for the Medicare drug price negotiation program.
The Biden-Harris administration has been focused on healthcare for its entire term. Thanks to their programs, 3.4 million Medicare Part D enrollees who filled an insulin prescription in 2023 had their insulin costs capped at $35 per month, saving some seniors hundreds of dollars for a month’s supply.
VP Harris has also made healthcare a top issue for her presidential campaign along with her running mate, Gov. Tim Walz (D-MN), who has spoken eloquently about the difficulties he and his wife, Gwen, faced in starting their family.
Watch the President and Vice President, reunited and it feels so good!