President Biden’s Inflation Reduction Act set the stage for Medicare to negotiate drug prices for the first time, but the savings won’t reach patients until 2026—potentially allowing a different president to claim credit. Former President Donald Trump, who has long railed against high drug costs, could benefit politically if he wins in 2024.
“There is something deeply ironic about Donald Trump potentially returning to power and implementing the price reductions on something where he went out on a limb for Republicans,” said Spencer Perlman, director of healthcare research at Veda Partners. He noted that Democrats have built a timeline that both strengthens their 2024 campaign message and makes it difficult for Republicans to reverse course without political cost.
This excerpt and any accompanying media (including audio, video, or images) are shared under the principles of fair use, for informational and archival purposes only. All rights remain with the original publisher.