AFT’s Weingarten on Biden-Harris’ Slashing of Drug Costs for Millions

WASHINGTON—AFT President Randi Weingarten issued the following statement after the Biden-Harris administration announced huge reductions in drug prices negotiated by Medicare:

“For far too long, Big Pharma has raked in record profits by forcing older Americans to decide between purchasing lifesaving medication and buying food or paying the rent. The industry has conspired to make the simple act of taking care of yourself as difficult and expensive as possible, by cruelly hiking prices year after year. That’s why today’s announcement by the Biden-Harris administration of reduced drug prices negotiated by Medicare, and enabled by Vice President Kamala Harris’ tiebreaking vote to pass the Inflation Reduction Act, will help seniors retire with dignity and grace.

“By standing firm against the drug companies’ intransigence, Biden and Harris have successfully slashed the costs of 10 essential medicines for Medicare enrollees—including those used to treat diabetes, blood clots and cancer. The result will be a decline in list prices of between 38 and 79 percent, saving taxpayers $6 billion and enrollees an extra $1.5 billion in 2026 alone. With the breathing room to afford their medications, millions of retirees and people with disabilities will be far less worried about affording the necessities they need to get by.

“There is no greater contrast between Vice President Harris and her opponent. Under Project 2025, this negotiation would have been literally illegal. Donald Trump would rather cut taxes for Big Pharma than take on its greedy, penny-pinching practices. Kamala Harris and Tim Walz know this is only a first step—and if elected this November, they will continue to crack down on the corporations and the wealthy who are determined to make life more difficult and expensive for vulnerable Americans.”