President Joe Biden joined Vice President Kamala Harris on Aug. 15 in their first joint event since he withdrew from the 2024 presidential race, and she replaced him at the top of the Democrat ticket.
Biden and Harris rallied supporters at a community college in Maryland and unveiled their plan to lower prescription drug prices. They announced an agreement with drugmakers on medicare price cuts for the 10 costliest drugs, including ones used to treat cancer, diabetes, and heart disease.
“We know it is not just about health care, it is about your dignity,” Biden said. “It’s about peace of mind. It’s about security. It’s about taking care of your family. It’s about giving folks just a little bit more breathing room,” Biden said, adding that he believes health care should be a right and not a privilege for Americans.
The cost of insulin will be brought down to $35 a month for seniors, the president said.
The Biden-Harris administration said its efforts to negotiate lower drug prices will save out-of-pocket costs for millions of Americans who rely on the medications. They say patients enrolled in Medicare could save $1.5 billion in 2026, and American taxpayers will also save an estimated $6 billion.
The 2022 Inflation Reduction Act (IRA) allows the federal government to directly broker with drug manufacturers for the first time in the history of the Medicare program.
The Democrat presidential nominee told supporters that she was “proud” to cast the tie-breaking vote to get the IRA passed in the Senate.
Harris also praised Biden saying it was an honor to serve with him.
“Few leaders in our nation have done more on so many issues, including to expand access to affordable health care, than Joe Biden,” Harris said.
Former President Donald Trump, in his economic policy speech on Aug. 14, pledged to reduce the price of prescription drugs. The speech centered on the theme of “making America affordable again.”
In his speech, the 45th president told supporters that he would keep the Affordable Health Care Act intact unless there is another way to offer “less expensive and better health care” for Americans.
Harris on Friday will deliver her own economic policy speech to supporters in Raleigh, North Carolina.