US State of the Union Address – Biden Will Veto Attempts to Repeal Inflation Reduction Act

During last night’s (February 7^th) State of the Union, US president Joe Biden emphasized the need to extend the $35 a month price cap on insulin to all Americans. In addition, he highlighted other provisions of the Inflation Reduction Act that will impact drug prices for many in the US, including the $2,000 out of pocket drug cost maximum for older adults on Medicare and upcoming drug pricing negotiations.

According to Zachary Brennan, “Details on both the rebates and negotiations still need to be ironed out at CMS in the coming months, but Biden noted that some members (it passed on a strictly partisan vote) are threatening to repeal the IRA, to which Biden promised a swift veto.”

To read more, click here.

(Source: Endpoints News, February 8^th, 2023)