Biden and Harris to Host First Joint Event on Lower Drug Costs Since Exit

President Joe Biden and Vice President Kamala Harris are set to hold their first joint event since Biden exited the 2024 presidential race and endorsed Harris to take his place as the Democratic nominee. The event will take place at Prince George’s County Community College in Maryland at 1:30 p.m. ET.

The focus of their remarks will be on the economy and how their administration has worked to ease costs for Americans. A significant part of their message will detail the recent announcement from the Department of Health and Human Services regarding price negotiations for 10 commonly used medications, projected to save Medicare enrollees approximately $1.5 billion in out-of-pocket costs starting in 2026.

Biden expressed his relief in a statement, emphasizing the positive impact of these negotiations on millions of seniors who require these medications for conditions such as heart failure, blood clots, diabetes, arthritis, and Crohn’s disease. “It’s a relief for the millions of seniors that take these drugs,” he stated, underscoring the financial benefits for American taxpayers as well.

Harris, in her own statement, labeled the agreement as a “lifechanging” development for families across the nation. She stressed that access to necessary health care should not depend on an individual’s financial situation. “That is why President Biden and I fought to lower the costs of health care with our Inflation Reduction Act, transformational legislation that I was proud to cast the tie-breaking vote on in the Senate,” she commented, linking the new drug pricing structure to broader goals of economic accessibility.

The price negotiations are part of the Inflation Reduction Act, which was enacted in 2022, enabling the government to negotiate directly with drug manufacturers— a historic first within the Medicare framework. In addition to the initial batch of 10 drugs targeted for 2026, the government plans to negotiate prices for an additional 15 drugs in 2027, another 15 in 2028, and up to 20 more each subsequent year.

As Harris highlights her alignment with Biden’s agenda to reduce costs, she is preparing to make her own campaign remarks on Friday in North Carolina. This event will mark her first significant policy rollout since officially becoming the Democratic nominee.

In her upcoming address, Harris plans to propose a federal ban on corporate price-gouging related to food and groceries. Her campaign has stated that she will advocate for empowering the Federal Trade Commission and state attorneys general to investigate and penalize companies that engage in deceptive pricing practices. “Price fluctuations are normal in free markets,” her campaign noted, indicating a distinction between fair competitive pricing and unjustifiable price hikes that impact American consumers.

Harris has also brought attention to eliminating a tax on tips for service workers, a proposal which closely mirrors a similar plan recently put forth by former President Donald Trump. Her economic agenda will further cover measures to reduce healthcare and housing costs, addressing key issues affecting families across the nation.

On the same day as Biden and Harris’s scheduled joint event, Trump will be making remarks focused on the economy as he returns to the campaign trail in North Carolina. His comments have taken aim at the Biden-Harris administration’s economic record, while also outlining his proposal to remove taxes on tips and Social Security benefits for seniors.

Trump’s critiques have included several controversial claims about the state of the economy, painting a dire picture of a potential future under continued Democratic leadership. “With four more years of Harris, your finances will never recover,” he cautioned, arguing that the country’s stability would be at stake. He promised that with his leadership, American incomes would increase, savings would grow, and homeownership would be attainable for young people again.

As both campaigns ramp up their messaging, the focus on the economy and consumer affordability remains a pivotal theme heading into the election season.

Source: ABC News