Biden to address healthcare costs, Social Security in White House speech

Biden to address healthcare costs, Social Security in White House speech

October 03, 2022 : President Joe Biden will make a statement on healthcare costs, Medicare and Social Security just weeks earlier of the midterms to highlight the differences between his opinion and Republicans on the programs.

Biden is anticipated to make remarks at the White House at about 1:15 p.m. EDT.

“Previous year, a family of four saved an average of $2,400 on healthcare via the American Rescue Plan that President Biden signed into law,” press secretary Karine Jean-Pierre stated in her Monday press briefing.

“And currently, thanks to the Inflation Reduction Act, which President Biden signed into law about two weeks ago, Medicare will eventually have the power to negotiate lower prescription drug prices. Seniors will witness their out-of-pocket costs for prescription drugs restricted to $2,000 a year.”

Some Republicans have supported raising the Medicare eligibility age and the Social Security retirement age as element of a plan to keep the programs solvent without increasing taxes. They failed to derail the Democrats’ last economic package in August, including the remains of Biden’s Build Back Better plan.

“For years, Big Pharma and special interests had blocked Medicare from negotiating more inferior prescription drug prices,” Jean-Pierre expressed. “President Biden and Democrats in Congress put an end to that via the Inflation Reduction Act, while every single Republican official voted against it. Not only that, Republicans in Congress persist to advance legislation to cut Social Security and Medicare and put these agendas on the chopping block.”