Congressional Republicans Have No Plan to Extend the Life of Medicare and Have Vowed to Repeal Medicare’s Power to Negotiate Lower Drug Prices
Washington DC — Today, President Biden announced a plan to extend the solvency of the Medicare trust fund beyond 2050, ensuring that seniors and near seniors have access to this vital health care program for years to come. The proposed budget also builds on the work of the Affordable Care Act and the Inflation Reduction Act to strengthen Medicare’s power to negotiate lower drug prices and ensure the wealthiest Americans earning more than $400,000 per year pay their fair share in taxes. In response, Protect Our Care Executive Director Brad Woodhouse issued the following statement:
“President Biden is taking a stand to protect our nation’s seniors. While Republicans are working overtime to hold our economy hostage so they can slash vital health care programs, President Biden has made clear he will not back down from his promises to the American people. Democrats have worked hard to put seniors first, whether by giving Medicare the power to negotiate lower drug prices, capping insulin costs, or providing free vaccines. These measures have already lowered costs for millions, especially for seniors of color and rural seniors. This plan will build on this work to ensure Medicare is secure for another generation without raising costs or cutting benefits for seniors who have worked hard their entire lives. This plan to protect Medicare is essential to making affordable health care a right and not just a privilege for every American.”