Remarks by President Biden on Lowering the Cost of Prescription Drugs | Concord, NH

Happy Birthday to my dear friend, partner, and a remarkable leader – Kamala Harris.

Since the start of my Administration, we've created more than 16 million jobs – the most jobs created in any single presidential term.

Not a single Republican in Congress voted for the Inflation Reduction Act and its cap on the cost of insulin at $35 a month for people on Medicare.

We're just going to leave this here.

Thanks to the Inflation Reduction Act, Medicare will now save thousands on some of the highest-cost prescription drugs. The Biden-Harris Administration promised to take on Big Pharma – and we won.

Prior to my Administration, only 7,000 public service workers received any form of debt cancellation through the Public Service Loan Forgiveness program.Today, after more than three years under my Administration, that number is over 1 million.

When I came to office, I inherited the worst economic crisis since the Great Depression – but now, our economy is the strongest in the world.There's still more work to do, but we’ll keep growing the economy from the bottom up and the middle out, not the top down.

This year, President Biden’s Inflation Reduction Act started capping prescription drug costs for seniors at about $3,500 a year.In the first six months of 2024 alone, that cap has saved people on Medicare nearly $1 billion.That’s real money back in people’s pockets.

Our Administration is proposing new rules under the Affordable Care Act that would allow 52 million women to access no-cost over-the-counter contraception without a prescription. We will keep fighting for reproductive freedom and access to reproductive health care.