September 27, 2022 HEATHER COX RICHARDSON
September 27, 2022 Heather Cox Richardson Sep 28 Today, President Joe Biden held an event in the Rose Garden at the White House to celebrate the lower drug costs possible thanks to the Inflation Reduction Act, which passed without any Republican votes in either the House or the Senate. Phasing in over the next few years, the measure will cap the out-of-pocket costs for prescription drugs at $2000 a year and make vaccinations free for seniors on Medicare. If the price of drugs rises faster than inflation, drug companies will have to rebate the difference to Medicare. And Biden noted that today, the Department of Health and Human Services announced that the premium for Medicare Part B, which pays for doctor visits, will decrease this year. All of this was possible, he said, because the biggest corporations in America will have to pay a minimum corporate tax of 15%. “The days of billion-dollar companies paying zero taxes are over.” “And,” he added, “we’re doing all this by bringing ...