Washington DC — Today, President Biden signed The Inflation Reduction Act into law, which will lower costs and improve health care for millions of Americans. Along with combating inflation and making key investments in climate and energy, this historic legislation will drive down health care premiums for 13 million Americans and lower the cost of prescription drugs. The bill finally reins in Big Pharma’s greed by giving Medicare the power to negotiate lower drug prices, capping seniors’ out-of-pocket drug costs, and stopping egregious price hikes. These policies will save Americans thousands of dollars a year, making health care more accessible and equitable for years to come.
“The Inflation Reduction Act is a major victory in the fight for affordable, quality health care. For far too long, we have lived in a broken system where people die because they can’t access the health care they need,” said Protect Our Care Chair Leslie Dach. “Lowering costs will be a life saver for seniors and families who have been forced to choose between affording their prescription drugs or going to the doctor and making ends meet. This bill is a game-changer and will pave the way for better and more equitable health care for every American.”
“Today is another BFD for American health care. We haven’t seen legislation this significant since the passage of the Affordable Care Act,” said Protect Our Care Executive Director Brad Woodhouse. “Not only will folks save money, but millions of people will finally be able to afford lifesaving care thanks to this legislation. Despite countless attempts by Republicans in Congress and Big Pharma to kill this bill, the needs of the American people prevailed. Thanks to President Biden and Democrats, help is on the way.”
More information on The Inflation Reduction Act can be found here.