Biden Takes on Drug Companies, Outlines Plan to Lower Prescription CostsIn his first State of the Union address, President Biden pledges to cap the cost of insulin at $35 a month, save many families about $1,000 a year in premiums.
By Main Street Sentinel Staff
Addressing Congress in his first State of the Union address, President Biden pledged to provide much-needed relief to working families by lowering the costs of everyday expenses.
Among other measures, the President promised to take on the prescription drug companies by lowering the costs of prescription drugs, taking “specific, practical” actions to reduce what is a high expense for many families. “Let’s cap the cost of insulin at $35 a month,” helping Americans without hurting the economy, the President said.
The President also urged Congress to make permanent Americans’ current savings on premiums, which he said are “helping millions of families save on their health care costs.” The subsidies that President Biden called on Congress to extend save adults aged 50-64 an average of over $950 dollars per year.
According to AARP CEO Jo Ann Jenkins, “President Biden continues to urge Congress to act on our nation’s skyrocketing prescription drug prices. We urge the Senate to keep their promises to voters.”