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prescription drugs. Meanwhile, Trump continues to take claim for President Biden’s progress. While in
office, Trump let drug companies charge Americans whatever they wanted and profit as much as they
could. Under his administration, drug prices skyrocketed, and millions of Americans lost their health
insurance coverage – all while giving billions in tax breaks to drug and insurance companies and their
CEOs.
Project 2025 fully repeals the Inflation Reduction Act’s prescription drug provisions that are saving
Americans thousands of dollars on health care. However, if repeal fails, another Trump administration
would have the ability to drop its legal defenses in cases where drug companies are suing to stop
negotiation in court and loosen the interpretation of Medicare’s ability to negotiate drug prices. This
could make more drugs exempt from negotiation and essentially make drug pricing laws defunct. The
threat is real. If Trump comes to power and repeals the Inflation Reduction Act, he will raise costs for
hardworking families and give drug companies and CEOs more tax breaks.
This is in stark contrast to President Biden and Democrats in Congress, who stood up to big drug
companies by passing the Inflation Reduction Act, which gave Medicare the power to negotiate lower
drug prices, capped the monthly price of insulin at $35, capped annual out-of-pocket drug costs for
seniors, and penalized drug companies for raising prices faster than the rate of inflation. Together, these
provisions are helping seniors afford their medications while saving them thousands of dollars to put
toward other essentials like groceries and rent.
The Inflation Reduction Act Under Trump:
• GONE: A $35 monthly insulin cap for 4 million Americans on Medicare.
• GONE: Prescription drug savings for people on Medicare, including a $2,000 annual out-of-
pocket cap and protections from drug company price hikes through inflation rebates. Nearly 19
million American seniors are expected to save an average of $400 per year.
• GONE: Free vaccines for 52 million people on Medicare, including for shingles and pneumonia.
• GONE: Medicare’s power to negotiate lower prices for the most popular and expensive
prescription drugs. Nearly 9 million people take the first ten drugs that were selected for
Medicare negotiation, which accounts for 20 percent of annual Medicare Part D spending.
• GONE: Prescription drug savings for 400,000 low-income seniors through the Medicare Part D
Extra Help program.
• GONE: Free recommended vaccines for people with Medicaid and CHIP coverage.