Jared Bernstein calls for bipartisan support to lower prescription drug costs
Jared Bernstein, a member of the Council of Economic Advisers, called for bipartisan support in Congress for measures to make prescription drugs, one of the biggest costs Americans face, much more affordable.
In a Fox News interview on Sunday, he noted that Americans often pay two to three times as much for the same drugs as Europeans, and for years both sides, including former President Donald Trump, have claimed that they were in favor of solving this problem.
He said the plight of Americans paying two to three times what people in other countries pay for the same drugs is “just an unconscionable tax on our seniors.”
Bernstein, who served as chief economist and economic adviser when Biden was vice president, described the strong state of the US labor market and the recovery in jobs, while again stressing that lower prices are the top priority. Of the president.
He said the high savings from the bailout and other measures were doing a lot to support consumer spending, “the real buffer in this time of high inflation”.
Bernstein claimed that the United States currently has the strongest labor market in history by many conventional parameters. Nine million jobs have been created by the Biden administration so far, he said.
Highlighting the latest volume of job growth, he said there were 375,000 jobs per month over the past three months.
Bernstein said that although wage growth is quite strong in nominal terms, inflation is so high.
In this context, the President’s agenda is to help families pay for prescription drugs and reduce their health insurance premium.
“I’m looking at the Capitol from the window here — something Congress needs to act on before the August recess, and I’m talking bipartisan,” he added.
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