Biden gets a rare hand from Big Business in quest to ease consumer pain - POLITICO

  • 📰 politico
  • ⏱ Reading Time:
  • 60 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 27%
  • Publisher: 59%

United States News News

United States United States Latest News,United States United States Headlines

President Joe Biden’s campaign against high consumer costs is getting a boost from an unexpected source: corporate America.

The bully pulpit has produced some interesting results. But how consequential are they?

“The president has made clear for over a year now that a top priority is bringing down costs for folks,” said Bharat Ramamurti, deputy director of the National Economic Council and one of the officials spearheading the junk fee initiative. “The fact he’s willing to sharply call out certain behavior and highlight it is encouraging these corporations — at least some of them — to come along with us.”

The changes made by companies over the last several days are modest, and as much a result of corporate calculations as political pressure. Drugmaker Eli Lilly plans to slash its insulin prices and cap out-of-pocket costs at $35 a month for privately insured patients, bringing it in line with a limit Democrats imposed on Medicare as part of last year’s Inflation Reduction Act.

Democrats have long targeted high pharmaceutical prices, driven in large part by surveys showing drug affordability is a top worry for voters on both sides of the aisle. White House economic aides charged with assembling Biden’s “junk fee” agenda, meanwhile, zeroed in on surprise fees that not only affect broader economic competition but are simply the most likely to drive Americans crazy.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 381. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Yes, but not really.

His policies caused it, typical DemocRat blame someone else for their failures

Lmao no it’s not. They are just doing a nice little pa campaign. Same old pervert and same old corporate owners

Wow, corporations seeing how greedy they are!

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

NJ Cannabis Insider Live Cannabis Business ConferenceOn March 8, NJ Cannabis Insider Live--known for its conferences, meetups and job fairs-- is bringing you a multi-track conference featuring an impactful combination of general sessions, breakout discussions, speed networking and vendor exhibition. Buy tickets to support the dumbing down of our public? interesting what smallbiz newjersey will look like at this conference…. anyone want to go?
Source: njdotcom - 🏆 282. / 63 Read more »