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The Inflation Reduction Act, championed by the Biden-Harris Administration and House Democrats, has been passed to combat high prescription drug costs, specifically benefiting American seniors. The legislation has led to significant savings on 41 separate prescription drugs, with seniors now able to save up to $3,575 per dose. This move is part of a broader effort to challenge Big Pharma and reduce the financial burden of medication on citizens. The Act also introduces a cap on total prescription drug costs for seniors on Medicare at $2,000 a year, a significant reduction from the potential tens of thousands of dollars spent on expensive treatments such as cancer drugs that can cost $10,000, $12,000, $15,000 a year. Meanwhile, Democrats criticize the House Republican budget for siding with Big Pharma by proposing increases in drug prices and seniors' out-of-pocket costs.
Starting next year, my Inflation Reduction Act will cap total prescription drug costs for seniors on Medicare at $2,000 a year – even for expensive cancer drugs that can cost $10,000, $12,000, $15,000 a year. Now, I want to cap that cost for every American. https://t.co/U0KWMN6udQ
Big Pharma is trying every trick in the book to evade @POTUS’s efforts to lower the cost of prescription drugs. That’s why I’m working to make my End Price Gouging for Medications Act the law of the land.
While the Biden-Harris Administration is taking on Big Pharma to lower costs and expand healthcare for hardworking families, the GOP is actively working to rip healthcare away from millions and raise prices on seniors. I stand with @POTUS. https://t.co/dv5Gm37vNf
Last year, Democrats took on Big Pharma and won, delivering the most significant progress to lower prescription costs in decades. The House Republican budget would side with Big Pharma by increasing drug prices and seniors’ out-of-pocket costs.
Big Pharma charges Americans up to 3x more for Rx drugs than those in other countries & prices keep going up. But thanks to Democrats' Inflation Reduction Act, seniors are now saving up to $3,575/dose on 41 meds. A great step towards #LoweringDrugCosts for all. https://t.co/x1KMtRLAxR
.@POTUS and @HouseDemocrats took on Big Pharma and passed the Inflation Reduction Act to lower prescription drug costs for American seniors. Thanks to that effort, families can now save on 41 separate prescription drugs. #PeopleOverPolitics https://t.co/0yDr4BJdY2