Becker's Healthcare August 6, 2024
JD Vance and Tim Walz, the Republican and Democratic candidates for vice president, respectively, have both voiced support for aspects of the Inflation Reduction Act, a landmark law that aims to lower prescription drug prices.
Here are each candidate’s records on rising pharmaceutical costs, which are projected to increase 3.81% by summer 2025, according to Vizient.
JD Vance
In a 2022 interview with AARP, the Ohio senator expressed support for giving Medicare the authority to negotiate prescription drug prices. That same year, President Joe Biden signed the Inflation Reduction Act, which grants CMS negotiation powers for a selective number of drugs with no generic or biosimilar competition.
However, Mr. Vance has criticized the act’s allocation of at...
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