March 07, 2024

State of the Union: Retirees Call on President Biden to Continue Lowering Prescription Drug Prices and Keeping Social Security and Medicare Cuts off the Table

The following statement was issued by Richard Fiesta, Executive Director of the Alliance for Retired Americans, regarding President Biden’s State of the Union address:

“Tonight President Biden told the American people that the state of the Union is strong. That’s not news to older Americans who are paying less for prescription drugs now than they were before President Biden took office in 2021.

“Of course, there is more to be done to ensure every American has a secure retirement. President Biden laid out a plan tonight to move us far closer to that goal.

“First, defend Social Security and Medicare from politicians who want to slash benefits or even end these programs as we know them. President Biden made clear that he gets it when he again stated his firm opposition to any legislation that will cut the benefits Americans earn over a lifetime of work, including a so-called ‘fiscal commission’ to meet behind closed doors and do Congress’ dirty work.

“Second, keep the pressure on the pharmaceutical industry to lower prices. Americans pay the highest prices in the world for prescription drugs, and the drug corporations are doing everything they can to keep it that way.

“President Biden’s bold call tonight to have Medicare negotiate lower prices for at least 50 high priced prescription drugs a year, up from the 20 they are allowed to negotiate now, is exactly what is needed. Negotiating lower prices will save seniors and taxpayers billions of dollars and strengthen the Medicare system for years to come.

“President Biden has continued to meet seniors’ highest expectations and even surpass them. With another term he can continue to lower drug prices and protect their hard earned Social Security, Medicare and pension benefits from attack.”

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Contact: David Blank, dblank@retiredamericans.org