Yesterday, Senate Democrats overcame unified Republican opposition and a record-breaking lobbying campaign from Big Pharma to pass the most significant health care legislation since the Affordable Care Act (ACA). Along with combating inflation and making key investments in climate and energy, the Inflation Reduction Act of 2022 will drive down health care and prescription drug costs for the American people. By giving Medicare the power to negotiate, capping seniors drug costs, limiting many of Big Pharma’s price hikes, and lowering premium costs, this historic legislation will deliver long-overdue relief to millions of Americans, making health care more affordable, accessible, and equitable. Here’s what Democratic Senators are saying about their historic victory:
Majority Leader Senator Chuck Schumer: “The Inflation Reduction Act that Senate Democrats delivered will bring down health care costs and lower prescription drug costs.” [8/8/22]
Majority Whip Senator Dick Durbin: “@SenateDems have heard the American people: do something to fight inflation, lower prescription drug prices, and combat the climate crisis. Today’s historic legislation—the Inflation Reduction Act—will do just that.” [8/7/22]
Chair of Policy and Communications Committee Senator Debbie Stabenow: “PASSED! After many long hours, the Inflation Reduction Act has passed. A historic bill to lower the cost of prescription drugs, lower energy costs, address the climate crisis, and create millions of jobs.” [8/7/22]
Chair of Steering Committee Senator Amy Klobuchar: “Hard to put into words how big of a deal it is that we are finally lifting the ban on Medicare being able to negotiate drug prices. Over a decade of fighting. Millions and millions of seniors fought for this. Finally, they’ll have lower costs.” [8/8/22]
Vice Chair of Policy and Communications Committee Senator Cory Booker: “It [the Inflation Reduction Act] contains commonsense reforms that will allow Medicare to negotiate prescription drug prices and cap out-of-pocket costs. We will protect seniors from outrageous prices charged by pharmaceutical companies for lifesaving medications. It also provides an additional three years of Affordable Care Act subsidies which will lower health care premiums for millions of Americans.” [8/8/22]
Secretary of Conference Senator Tammy Baldwin: “After a long weekend of pushing to lower costs for working families, @SenateDems have passed the #InflationReductionAct. Our reforms will close tax loopholes for big corporations, cut the deficit, and lower out-of-pocket costs for prescription drugs & health care premiums.” [8/8/22]
Chairman of Senate Finance Committee Senator Ron Wyden: “I’d like to say a huge thanks and kudos to my staff, especially those on @SenateFinance, who have been working tirelessly to craft this legislation to tackle the climate crisis and lower prescription drug costs. They’re the best in the business and set the bar for public service.“ [8/7/22]
Chairman of Senate Aging Committee Senator Bob Casey: “With the Inflation Reduction Act, families who rely on the ACA for health care plans can breathe easier because the boosted subsidies from the American Rescue Plan would be extended through 2025. Many families would pay little to nothing for their health care premiums.” [8/7/22]
Chair of Senate Commerce Committee Senator Maria Cantwell: “Washingtonians are paying way too much for prescription drugs. For example, the average cost of insulin more than tripled over the past 10 years to over $735 a month per patient. Now, with the passage of the Inflation Reduction Act, Medicare beneficiaries are guaranteed to pay no more than $35 a month.” [8/7/22]
Chair of Small Business Committee Senator Ben Cardin: “Senate Democrats have stepped up and passed legislation that will make it easier for American families to afford health insurance coverage and prescription drugs, while lowering energy costs and boosting job creation in the growing clean energy sector.” [8/7/22]
Chairman of Senate Armed Services Committee Senator Jack Reed: “The Inflation Reduction Act will help working families, lower deficits, create jobs, & boost private investment. For the 1st time, the Senate voted to lower Rx drug costs for seniors by finally giving Medicare bargaining power. It also addresses the climate crisis in a historic way.” [8/7/22]
Chairman of Joint Economic Committee Senator Martin Heinrich: “With the Inflation Reduction Act we are combating the climate crisis, fighting inflation, lowering health care and prescription drug costs, and finally making the tax code fairer so it’s no longer rigged in favor of corporations and the ultra-rich. What a momentous step forward.” [8/8/22]
Chairman of Homeland Security and Governmental Affairs Senator Gary Peters: “Senate Democrats have taken a historic step to lower costs like prescription drug prices, tackle inflation and address working families’ most pressing concerns.” [8/7/22]
Senator Mazie Hirono: “The Inflation Reduction Act will lower costs for families, combat the climate crisis, reduce the deficit, and tackle inflation. Every single Republican just voted against it. Once again, Democrats are delivering for our families while Republicans sit on their hands.” [8/8/22]
Senator Raphael Warnock: “Great news, folks! After a long night, we passed the Inflation Reduction Act. This legislation finally caps drug costs for seniors and helps Georgians save money on their health care, all while reducing the deficit. This is a big win for Georgians!” [8/7/22]
Senator Maggie Hassan: “Prescription prices don’t just ‘go up.’ Big Pharma executives choose to raise them behind closed doors. The Inflation Reduction Act takes on Big Pharma by allowing Medicare to negotiate prescription drug prices – driving down prices across the board.” [8/8/22]
Senator Richard Blumenthal: “Democrats have fought for years to allow Medicare to negotiate drug prices which will result in huge savings for seniors. This bill is the largest investment & most important action to fight climate change in history.” [8/7/22]
Senator Angus King: “The Senate just passed the Inflation Reduction Act – this historic package will lower healthcare and energy costs for Maine people, fight climate change, and reduce the deficit. I’m proud to have supported the bill, and look forward to seeing the incredible impact it will have.” [8/7/22]
Senator Jacky Rosen: “From lowering prescription drug costs for seniors & making health care more affordable, to creating good-paying jobs as we invest in clean energy & our water future, the Inflation Reduction Act is a huge & historic win for Nevada families. I’m proud to have voted YES.” [8/7/22]
Senator Jeanne Shaheen: “Senate Democrats just passed historic legislation that will directly address inflation & make critical investments in working families. This includes my provision to extend ACA tax credits & historic action to combat climate change.” [8/7/22]
Senator Tina Smith: “Like I said before — this is a BIG deal. Senate Democrats got climate, health care, deficit reduction and tax fairness done – without the help of a single Republican.” [8/7/22]