2 weeks Ago
Vice President Kamala Harris is touting the Inflation Reduction Act, for which she cast the tiebreaking vote, as a signature achievement of the Biden-Harris Administration. Her proof point: through the legislation’s government-enforced “negotiations” on ten popular drugs, seniors will pay $1.5 billion less on prescription drugs, but not until 2026.
With sixty-seven million people enrolled in Medicare, $1.5 billion in savings is about 20 bucks a year if averaged across all beneficiaries – an amount dwarfed by the same law’s other provisions. Many are already paying monthly premium increases that are now equal to the annual savings they are waiting for in 2026.
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