President Biden’s Agenda Is Lowering Insulin Costs While Trump and MAGA Republicans Side With Big Pharma
January 3, 2024
In response to major insulin manufacturers lowering the cost of insulin for hardworking Americans as a result of President Biden’s Inflation Reduction Act, DNC National Press Secretary Sarafina Chitika released the following statement:
“President Biden took on Big Pharma, and he won. Thanks to the Inflation Reduction Act, pharmaceutical companies are heeding President Biden’s call to stop price gouging hardworking Americans for their lifesaving medication. Trump and MAGA Republicans have pledged to roll back President Biden’s work to lower costs for American families by dismantling the IRA and the Affordable Care Act, which would skyrocket costs and jeopardize Americans’ health care coverage. Come November, voters will remember that President Biden is putting the American people over Big Pharma’s profits when they reject whichever extreme MAGA candidate Republicans nominate.”
With help from President Biden’s historic Inflation Reduction Act, drug companies are lowering the cost of insulin — providing affordable, lifesaving care for millions of hardworking Americans.
CNN: “More Americans can now get insulin for $35”
“Congress, the White House and new players in the market have increased pressure on insulin manufacturers to lower their prices. Eli Lilly and Sanofi announced that they would institute $35 caps shortly after President Joe Biden called on drugmakers to do so in his State of the Union address last year. Medicare enrollees now pay no more than $35 a month for each of their insulin prescriptions, thanks to the Inflation Reduction Act, which Democratic lawmakers pushed through Congress in 2022.”
USA Today: “Insulin $35 cap price now in effect, lowering costs for many Americans with diabetes”
“In 2022, a sweeping climate and health bill called the Inflation Reduction Act capped insulin costs at $35 a month for Medicare enrollees. In February 2023, Biden urged Congress to extend that out-of-pocket cap to younger Americans with private health insurance.”
The Hill: “More Americans are now eligible to purchase insulin for $35, after leading manufacturers instituted new pricing Jan. 1. … Drugmakers have been under fire for years over the rapid rise of the price of insulin. According to the American Diabetes Association, the price increased 24 percent between 2017 and 2022, and spending on insulin has tripled over the past decade to $22.3 billion in 2022.”
HealthDay: “More Americans Will Only Have to Pay $35 a Month for Insulin in 2024”
“Now, thanks to the Inflation Reduction Act, Medicare enrollees pay no more than $35 a month for their insulin prescriptions.”
MAGA Republicans in Congress blocked a Inflation Reduction Act provision to cap the price of insulin at $35/month for private insurers and are trying to roll back the law’s drug pricing reforms.
CBS News: “Senate Republicans on Sunday blocked a $35 monthly cap on the cost of insulin in the private market from being included in Democrats’ economic tax and spending package, voting down an amendment to the measure during a marathon session leading up to what Democrats hope will be final passage of the bill.”
The Hill: “Senate Republicans on Friday introduced a bill that would roll back the drug pricing reforms included in the sweeping Inflation Reduction Act, including the measures allowing Medicare to negotiate drug prices and capping annual drug expenses for many seniors.”
“The bill allows Medicare to negotiate drug prices for the first time in the program’s history. It also placed a $2,000 out-of-pocket cap on annual drug costs for seniors on Medicare, as well as a $35 monthly cop for insulin. … If passed, the bill states it would make it so that the drug pricing measures in the Inflation Reduction Act ‘had never been enacted.’”
Axios: “Some key House Republicans are calling for the repeal of Democrats’ newly-passed drug pricing measure if the GOP flips control of one or both chambers of Congress next year. Why it matters: The comments show Republicans are not giving up the fight against sweeping measures aimed at lowering prescription drug prices, and give a glimpse of what their health agenda could look like.”
Meanwhile, 2024 Republicans are pushing to eliminate the Inflation Reduction Act, even as it is lowering health care costs for hardworking Americans.
Insider: “Former President Donald Trump on Friday slammed the Democratic-led climate, health, and tax bill, arguing that Republican Senate Minority Leader Mitch McConnell of Kentucky was ‘taken for a ride’ by Sen. Joe Manchin of West Virginia.”
Haley: “[The Inflation Reduction Act] is a communist manifesto.”
DeSantis: “You know, the good thing is I think there’s a pretty clear path to being able to reverse a lot of this stuff. The things he’s doing through executive order, you could reverse right away. But even what they did with the Inflation Reduction Act, they passed that via budget reconciliation in the Senate. So with 50 votes, I think, you know, we win the presidency, I’m pretty sure we would win the Senate and keep the House. And so at that case, what they put in by reconciliation, you could repeal by reconciliation.”
Christie: “The Inflation Reduction Act was a mistake.”
Trump and the entire 2024 GOP field have also advocated for repealing the Affordable Care Act, which would jeopardize millions of Americans’ health care coverage.
Daily Beast: “Trump Revives Plan to Dismantle Obamacare if Elected in 2024”
Jack Heath: “They’re going ahead and saying you would repeal the Affordable Care Act, would you?”
Haley: “It’s not about one small policy of, you know, Affordable Care Act. It’s about fixing the entire health care system.”
Justin Dougherty, Fox Carolina News: “If Republicans get control of Washington, [with] you in the White House, what’s your plan to repeal or replace the Affordable Care Act?”
DeSantis: “Well, look, that was a big failure. Obviously, under the Trump administration, that was a core promise — it didn’t happen. You know, what we’re gonna do is we have this massive health care bureaucracy: pharmaceutical, government, insurance, all this stuff. It’s a total mess. We’re gonna have a comprehensive plan to lower people’s costs, and yes, Obamacare hasn’t done it, so we’ll transcend Obamacare, but I think you got to do a lot more than just that.”
Ramaswamy: “I think Obamacare has been a disaster.”
Christie: “It’s about delivering on issues that voters care about. So the fact is that they care deeply about Obamacare. And Donald Trump promised them he’d repeal and replace it. He had a Republican Congress. He didn’t do it.”