This article was originally published by RealClearPolitics and made available via RealClearWire.
Steve Cortes is the founder of the League of American Workers. He formerly served as a senior advisor to President Trump, and a broadcaster with Fox News, CNBC, and CNN.
Prescription drug prices have soared 46.2% since 2020—now President Trump has the chance to finish the fight he started and finally deliver lower costs for every American.
Last November, Americans sent a clear election message and delivered President Trump a clear mandate: Prices are way too high. While inflation has hit our grocery stores (up 23.6% since 2020) and housing costs (up 30.9% since 2020), there’s another cost outpacing the rest when it comes to price hikes. Prescription drugs have jumped 46.2% since 2020, forcing Americans to pay the highest price in the world for life-saving medications. No wonder citizens are angry.
In 2022, Congress passed legislation that gave the Centers for Medicare and Medicaid Services (CMS) the authority to negotiate lower drug prices on behalf of Medicare beneficiaries for the first time. As this administration targets cost-saving measures across government, this program is projected to save billions of dollars, with an estimated $1.5 billion in savings for seniors next year alone and $100 billion in total taxpayer savings over 10 years. …
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