Kildee Statement on Biden-Harris Administration Action to Lower Drug Prices for Seniors

WASHINGTON-Congressman Dan Kildee (MI-08), member of the House Ways and Means Committee, issued the following statement after the Biden-Harris administration announcedlower prices for ten of the highest cost drugs in Medicare:

"No American should have to choose between putting food on the table or filling a prescription medication. For too long, Big Pharma has raked in record profits while working Americans have struggled to afford their medications.

"By passing the Inflation Reduction Act, President Biden, Vice President Harris, and Democrats in Congress took on special interests and delivered for the American people. This new law, which allowed Medicare to negotiate these lower drug prices with big pharmaceutical companies for the first time, will save seniors on Medicare $1.5 billion in out-of-pocket costs for drugs to treat cancer, diabetes, heart disease, blood clots, and more. That's in addition to the $6 billion these new lower prices will save all American taxpayers.

"This announcement will be lifechanging for mid-Michigan families. But we are not stopping there. Each year, Democrats will add new drugs to this list for negotiation to continue to bring health care costs down and ensure every Michigander can afford the medications they need."

The Inflation Reduction Act also included Congressman Kildee's legislation to cap the cost of insulin for Medicare beneficiaries at $35 per month. That cap is already saving Michiganders on Medicare over $400 a year.