Official announcements from the Biden Administration or relevant federal agencies

Biden Administration Caps Prescription Drug Costs Under Inflation Reduction Act, Benefiting 3.3 Million Wisconsinites

Jul 25, 2024, 12:09 AM

President Joe Biden announced that his administration has successfully taken on big pharmaceutical companies, resulting in significant reductions in prescription drug costs for seniors. This achievement is part of the broader Inflation Reduction Act, which aims to cap prescription drug costs for millions of American families, including 3.3 million residents of Wisconsin. Biden emphasized his commitment to continue fighting to lower drug costs for all Americans, not just seniors. The announcement comes after a debate gaffe where Biden mistakenly said, 'We finally beat Medicare,' leading to questions about his campaign.