President Biden has presented his vision for lowering prescription drug prices, just one day after Senate Democrats passed a budget resolution that will work to provide reduced premiums, expand coverage, lower drug costs, and expanded Medicare benefits to millions of Americans. 9 in 10 Americans support giving Medicare the power to negotiate for lower drug prices, including majorities of Democrats, independents, and Republicans. Addressing the skyrocketing cost of prescription drugs is a priority for Americans and should come as no surprise that it is at the center of President Biden’s Build Back Better agenda.
New York Times: Biden Presses Congress To Move On Prescription Drug-Price Controls. “[Biden] wants Medicare to be granted the power to negotiate lower drug prices, pharmaceutical companies to face penalties if they raise prices faster than inflation, and a new cap on how much Medicare recipients have to spend on medications. ‘There aren’t a lot of things that almost every American could agree on,’ Mr. Biden said at the White House. ‘But I think it is safe to say that all of us, whatever our background or our age and where we live, could agree that prescription drug prices are outrageously expensive in America.’” [8/12/21]
The Hill: Biden Calls On Congress To Act On ‘Outrageously’ High Drug Prices. “‘Prescription drug prices are outrageously expensive in America,’ Biden said in remarks at the White House, calling on Congress to allow Medicare to negotiate lower prices. ‘I look forward to Congress getting this done,’ he added…He said Medicare should be able to negotiate lower prices, and those prices should apply to people with private insurance through their jobs as well, not just people on Medicare.” [8/12/21]
Newsweek: Biden Calls On Congress To Lower ‘Outrageously Expensive’ Prescription Drug Costs. “Medicare—the federal health insurance program that covers more than 61 million Americans, most of them ages 65 and older—can negotiate costs for every other service, but it’s blocked from the same power when it comes to prescription drugs…’Right now, drug companies will set a price at whatever the market will bear,’ Biden said. ‘The prices have put a squeeze on too many people’s families.’” [8/12/21]
NBC: Biden Calls On Congress To Tackle Soaring Prices Of Prescription Drugs. “Biden urged Congress to allow Medicare to negotiate across the board…and said that the negotiated prices would reflect the drugmakers’ costs of research and development and would still provide a ‘significant profit’ to the pharmaceutical companies…‘This isn’t a partisan issue. Alzheimer’s, diabetes, cancer — they don’t care whether you’re a Democrat or Republican,’ Biden said. ‘This is another area where we can come together to make a difference in people’s lives.’” [8/12/21]
Reuters: Biden Urges Congress To Lower Prescription Drug Costs. “The Democratic president’s remarks laid out his vision to help reduce the costs for prescription medications as part of the Build Back Better agenda he is seeking to push through Congress as the nation continues to grapple with the COVID-19 pandemic…That spending plan would expand Medicare to include dental, vision and hearing benefits as well as lower the eligibility age, among other healthcare, climate and childcare provisions.” [8/12/21]
WLEX: Biden Delivers Push For Congress To Lower Drug Prices. “President Biden was calling on Congress to take up legislation that would change Medicare policies and allow the agency to negotiate the best price for prescription drugs. He’s also asking Congress to establish a cap on the amount that Medicare beneficiaries pay out-of-pocket for drugs. The president said Americans are currently paying two to three times more than prescription drugs than people in other countries.” [8/12/21]