Biden: America Faces a Choice

[Qutzupalotl]

Joe Biden: In 14 days, the American people face a choice

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My administration finally gave Medicare the power to negotiate lower drug prices. We capped out-of-pocket prescription drug costs at $2,000 a year for seniors and capped seniors’ monthly insulin payments at $35 a month. Big Pharma and scores of lobbyists spent hundreds of millions of dollars trying to prevent health care savings for Americans. They failed.

Many Republicans in Congress are calling to roll back these provisions that lower prescription drug costs – some of which take effect in January. That means the $2,000 cap on prescription drugs for seniors would be gone. The $35-a-month cap on insulin for seniors would be gone. The average savings on health care premiums of $800 a year for millions of Americans would be gone. Republicans would increase those everyday costs.

Democrats are making sure the biggest corporations begin to pay their fair share in taxes. In 2020, 55 of the wealthiest corporations in America paid zero dollars in federal income tax. No longer. I signed into law a 15% corporate minimum tax. And, I’m keeping my campaign commitment: no one earning less than $400,000 a year will pay a single penny more in federal taxes.

The Republican plan is to repeal the 15% corporate minimum tax and extend the Trump tax giveaway for the wealthy and large corporations. That would add $3 trillion over 10 years to the deficit and mean an average tax cut of more than $100,000 for the top 0.1% – those earning more than $4 million.

Republicans plan to cut taxes for the wealthy, and some aim to cut Social Security and Medicare for seniors. Rick Scott, the Senator from Florida who is in charge of electing Republicans, has a plan requiring Congress to vote every five years on keeping, cutting or eliminating Social Security and Medicare. Senator Ron Johnson from Wisconsin has proposed putting Social Security and Medicare on the chopping block every single year.

Republicans have even said that if they win control of Congress they may refuse to raise the debt limit and force our country into default unless we yield to their demands to cut Social Security and Medicare.

Let me be clear: as long as I’m President, Social Security and Medicare will be protected.

More: https://www.cnn.com/2022/10/25/opinions/american-people-face-a-choice-joe-biden/index.html

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