Go to Kamala Harris’ campaign website and among the very short list of alleged achievements is this: “She cast the deciding vote to lower drug prices and cap insulin prices for our seniors.” The only problem is that drug costs for seniors have skyrocketed since Harris signed that bill.
Higher costs.
Harris is pointing to the criminally misnamed “Inflation Reduction Act,” which got zero Republican votes, and which was supposed to lower the cost of prescription drugs by giving, as Harris puts it, “Medicare the power to negotiate lower drug prices with Big Pharma.” When George W. Bush established Medicare Part D, he let private insurers negotiate with drug companies over prices and then compete for seniors’ business.
“Under the Biden-Harris administration, Medicare drug plan premiums jumped by more than 90% in 10 states.
Harris’ tie-breaking vote has turned this once-successful program upside down.
Insurance companies are on the hook for what patients used to pay and are raising drug plan premiums to make up the difference.
Once again: higher prices and less competition.
https://issuesinsights.com/2024/10/17/drug-costs-explode-as-kamalanomics-massively-backfires/
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