White House: Drug Costs Dropped 11 Percent Under Trump

White House: Drug Costs Dropped 11 Percent Under Trump

A White Home Council of Economic Advisors (CEA) report released this week found that drug prices fell by more than 11 percent under President Donald Trump.

A White Home CEA report found that President Trump’s actions have actually reduced prescription drug rates. The CEA detailed that, under previous President Barack Obama, drug costs continued to increase and only began to fall after Trump took the oath of office.

The CEA wrote that prescription drug costs fell more than 11 percent and well below general inflation.

” In 2018, prescription drug rates even declined in small terms over the calendar year for the very first time because 1972,” the White Home council wrote.

The CEA associated much of this to the president’s finalizing of the 2017 Drug Competitors Action Strategy and the 2018 Strategic Policy Roadmap. The CEA stated the reforms enhance “choice and price competition in the biopharmaceutical markets.”

” We approximate that the results of these actions will save customers nearly 10 percent on retail prescription drugs, which leads to a boost of $32 billion each year in the purchasing power of the earnings of Americans (consisting of both consumers and manufacturers),” the council included.

The president’s development on decreasing the expense of prescription drugs follows as a Kaiser Family Foundation (KFF) survey found that health care is the most important problem for all citizens along with swing voters. Swing voters stated that healthcare was one of the most motivating issues for swing citizens to participate in the 2020 presidential election.

Throughout the State of the Union address in February, Trump assured to do more to lower prescription drugs and called on Congress to pass Sen. Chuck Grassley’s (R-IA) Prescription Drug Pricing Decrease Act.

Trump stated:

My administration is likewise taking on the huge pharmaceutical business. We have actually authorized a record number of cost effective generic drugs, and medications are being approved by the F.D.A. at a much faster clip than ever before. And I was pleased to reveal last year that, for the very first time in 51 years, the expense of prescription drugs in fact went down.

And collaborating, Congress can reduce drug costs considerably from present levels. I have actually been speaking to Senator Chuck Grassley of Iowa and others in Congress in order to get something on drug rates done, and done rapidly and appropriately.

” I’m calling for bipartisan legislation that attains the objective of drastically reducing prescription drug rates. Get an expense on my desk, and I will sign it into law instantly,” the president said.

Sean Moran is a congressional press reporter for Breitbart News. Follow him on Twitter @ SeanMoran3

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