JCN Reacts to Biden’s Last Ditch Effort to Expand Government Price Controls on Medicine

Washington, D.C. (January 17, 2025)—Just days ahead of Donald Trump’s inauguration, the Biden administration announced additional prescription drugs that will be subject to government price controls. Passed as part of the misnamed Inflation Reduction Act (IRA) in 2022, the federal government’s new authority to manipulate the free market harms American seniors and jeopardizes the country’s innovative drug supply chain.

The incoming Trump administration should explore strategies to blunt the policy’s consequences. That could include making the process more transparent, incorporating more feedback from the physician community, or pausing the program. Meanwhile, Congress should take steps to more concretely walk back the government price controls. Considerations should range from passing legislation like the EPIC Act, which levels the playing field for different classifications of medicine under the policy, to outright repealing it.

Elaine Parker, President of the Job Creators Network Foundation, released the following statement:

“The American people made their voice loud and clear in November: they don’t want another four years of Biden-Harris policies. Given that mandate, it’s shameful that the Biden administration continues to advance its harmful regulate-now-ask-questions-later agenda in the waning days of the term. Americans want pro-growth policies that build upon the free market to deliver prosperity, not government mandates that stifle patient choice and medical innovation.”