Wednesday marks the one-year anniversary of the landmark Inflation Reduction Act being signed into law by President Biden. Democrats spent the day highlighting the law’s sweeping reach.
U.S. Rep. Frank Pallone (D-6th) stressed the measure’s impact on controlling the cost of prescription drugs, through price caps on insulin and limits on out-of-pocket costs for people on Medicare. In an interview with NJ Spotlight News, Pallone said that more price controls for medicine are set to come, as the law allows Medicare to negotiate prices with drugmakers. That provision is currently being challenged in court.
