WASHINGTON, D.C.–People’s Action Executive Director Sulma Arias today released the following statement in response to the results of the first-ever Medicare drug price negotiations under the Inflation Reduction Act. The Biden/Harris administration today announced a $6 billion savings in 2026, with Medicare beneficiaries to save $1.5 billion in out-of-pocket costs.
“Today’s announcement shows that people-powered organizing can win victories for working people against greedy corporations. People’s Action joined with progressive allies in 2021 and 2022 to organize against Big Pharma–and we won! As a result, the Inflation Reduction Act required Medicare to negotiate the price of prescription drugs to lower costs for seniors and people with disabilities on Medicare. That means lower costs for the public and savings that can be reinvested in Medicare to keep costs down, and it also means $1.5 billion put directly back in people’s pockets.
“We need to keep organizing alongside our progressive partners in Congress to win prescription drug price negotiations across all health care plans and for more prescription drugs. An overwhelming 76 percent of Americans favor these negotiations, and we need to defend these wins at the ballot box in 2024.”
The Project 2025 agenda promoted by Trump and the Heritage Foundation proposes repealing the Inflation Reduction Act, which would end prescription drug price negotiations under Medicare and eliminate the $35 monthly cap on the price of insulin for seniors. In a June 20-24 poll by Navigator, 79 percent of people surveyed said these repeals would hurt the country.
During the 2021 negotiations over the IRA’s provisions, People’s Action hosted a rally outside PhRMA’s D.C. headquarters to protest drug companies’ relentless pursuit of profits at the expense of everyday people. Attendees delivered a letter to PhRMA, signed by a coalition of national and local progressive organizations, demanding accountability for their attempt to derail reforms that would make prescription drugs more affordable for millions of Americans. Sen. Bernie Sanders, I-Vt., joined the rally, photos of which can be found here.