United States President Joe Biden and Vice President Kamala Harris announced a significant achievement on Thursday, securing a deal with drugmakers to lower the prices of 10 essential medications for seniors.
The agreement is expected to save older Americans $1.5 billion and reduce costs for the Medicare program by $6 billion in its first year.
“This historic milestone is a direct result of the Inflation Reduction Act,” Biden said, highlighting the importance of the legislation passed after Harris cast a tie-breaking vote in the Senate.
“Kamala and I remain committed to fighting for the health and financial stability of every American.”
Harris emphasized the impact of the agreement, saying: “This deal will bring much-needed relief to countless families who have been struggling with the cost of prescription drugs. President Biden and I will never stop fighting for the wellbeing of the American people.”
The deal is seen as a crucial win for Harris as she ramps up her campaign against Republican contender Donald Trump ahead of the November election. Despite this success, Harris is navigating a delicate balance between aligning with Biden’s economic policies and distinguishing herself as she prepares to unveil her own economic agenda.
Axios recently reported that Harris is looking to “break with Biden on issues where he’s unpopular,” with inflation being a key concern for many voters. Inflation has been a persistent challenge during Biden’s presidency, overshadowing otherwise strong economic indicators such as job growth.
The pair will celebrate the drug price reduction deal at an event in Maryland, where they are expected to tout the agreement as a major step forward in addressing the high cost of living in the United States. Meanwhile, Trump plans to hold a press conference shortly after the Maryland event, where he recently launched personal attacks against Harris and other Democratic leaders, calling Harris a “crazy person,” Biden “stupid,” and Harris’s running mate Tim Walz a “clown.”
