Congressman Pallone In Woodbridge To Tout Inflation Reduction Act

WOODBRIDGE, NJ — Congressman Frank Pallone (D-NJ6) was at the Evergreen Senior Center in Woodbridge Thursday, where he touted lower prescription drug costs that he says will be provided by the Inflation Reduction Act.

"The bill is one of the most significant pieces of health care legislation to move through Congress in over a decade," said Pallone's office in a statement. "It will lower prescription drug costs for seniors by finally empowering Medicare to negotiate the cost of prescription drugs and capping the amount seniors pay for drugs at $2,000 annually. It will also dramatically lower the cost of monthly health insurance premiums for millions of Americans by extending Affordable Care Act marketplace subsidies through the end of 2025."

The House of Representatives is scheduled to vote on the bill this Friday. It has been overwhelmingly pushed by Democratic lawmakers. Many Republican lawmakers say the $400 billion bill provides too much funding to hire thousands of new IRS agents: The bill gives $80 billion to the IRS, more than half of which will go specifically to audit enforcement, The Hill reported.

“The Inflation Reduction Act also finally breaks Big Pharma’s monopoly on prescription drug prices," said Pallone Thursday, speaking before a crowd of Woodbridge seniors and Mayor John McCormac. “Importantly, it will help ensure seniors are no longer ripped off at the pharmacy counter by capping both their annual out-of-pocket drug spending as well as how much they can be charged for insulin. It also penalizes Big Pharma companies for unfairly hiking prices on seniors."

Pallone is a Democrat who has long held New Jersey's Sixth District seat in Congress. He will be challenged this fall in the midterms by the former mayor of Hazlet, Sue Kiley, a Republican. New Jersey's Sixth Congressional District stretches from Carteret and Woodbridge into Edison, New Brunswick and down to Asbury Park. It hugs the Raritan Bay coastline, including towns such as Aberdeen, Matawan, Hazlet, North Middletown, Sea Bright and West Long Branch.