prescription drugs, protecting social security and strengthening medicare.

have imposed on my family. including on my dad, who is joining me here today. [applause] last year alone at my family spent almost $3000, out-of-pocket, for my life-sustaining medication. th only medication that treats the underlying cause of my disease carries an annual list price upwards of $300,000. the medication brings enormous relief, but it's costs cast a shadow over my life. as a young adult about to graduate from college, i should be focused on my next steps, finding a job, applyin to law school and weathering my dad's embarrassing stories at graduation.

one day i hope to be an attorney who fights for good governance practices in effective public administration. i want to spend my time planning for that future. instead, i am worried about my ability to afford my health care and live an independent life. but amidst these challenges, president biden has offered a glimmer of hope. the president said he would take on big pharma and beat them,is t lowered prescription drug prices for seniors. it is a big deal. now, he's fighting to cap out-of-pocket drug cost at $2000 for all americans. for people like our family. for people like me. president biden believes health care is a right, not a privilege. [applause]

that's why it is my great honor to introduce the man who leads the fight to put patients above profit. the president of the united states, joe biden. [applause] ♪ pres. biden: hello, hello, hello. [cheers and applause] pres. biden: good to see you all. good to see you all. thank you. [applause] pres. biden: by the way, bowdoin college, good college, i've spoken there.

thanks rose, thanks for the introduction. please have a seat. i said that once early in my career and they said, we have no seeds, you areor the introduction and for your courage. 22 years old, born with cystic fibrosis, asease that's made evr , and she's not exaggerated by the high cost of medicines, in particular, certain drugs that are in need. rose, you are not alone. i am thinking about millions of americans out there who are the ceiling wondering what if it happens to me, how will i pay for it. mothers and fathers wondering if their children come down with a chronic disease. how will they deal with it? what are you going to have to do, it's consequential. can you afford the medical bills?

as i said in my state of the union, i'm doing everything i can to lower health care costs to provide people with peace of mind. at the expense of doctors or medicines or drug companies, but just to make it fair. we are so lucky to have a great congressional delegation including two of the best senators in the united states senate i have ever seen. maggie stand up, maggie. [applause] jean-claude and make it today but she's a dear friend and a great ally. she sent somebody that i would want on my corner if i had to be in a fight. ■oi'm here in new hampshire to talk about the budget i released

toy help in a big way. as you just heard, -- as you just heard rose, many americans pay for prescription drugs, or money than anywhere in the country. i got you on air force one with me, going to toronto, berlin, london, rome, anyplace in the world with the same prescription you might have for whatever you may need, no matter what it is. by the same company you could get it and although cities and the cost will be fact, that's nt hyperbole. that's wrong. i have been trying and trying for years in the u.s. senate to end it, and i'm ending it now. through the inflation reduction act th law -- not one republican voted for it. we finally beat big pharma.

capped jug coscitizens even fore drugs, maximum. i got it passed already, we got ss. beginning next year, at the end of this term, what's going to happen the cause for all prescription drugs for seniors, including cancer drugs, we will not have to pay more than $2000 a year. working with maggie i want to cap it for everyone, not just seniors. it could be transformation, but that's not all. of paying as much is 400 bucks a month for seniors with diabetes, you now only have to pay 35 bucks a month. you know why we did that, everybody knows somebody who needs insulin or diabetes. you know how much it cost to

make that, $10, tem, $10. and the guy who came up with it didn't have a patenbecause wanted to make sure everybody had access. if you add everything including the cost of packaging it, is 13 bucks. times more than they would've. they're not getting cheated. they will pay what other people pay around the world. now with the leadership in partnership and the entire delegation, i want to cap the cost of insulin at 35■ bucks for every american. every american. [applause] when i first got a pass that included all americans and we got it reauthorized. the other team wouldn't do it. it's only for seniors. for years people talked about this but we finally got it done and gave medicare the power to negotiate lower drug

prescription costs. just like the v.a. has been able to do for veterans for a long time. it's not just saving seniors money, it's saving every taxpayer money. it's cuttingdt the federal deficit. cut it by 106 $2 billion. that's $160 billion medicare does not have to pay out if we pay a rational price for this drug. this year medicare is negotiating lower prices for some of the charges of the market. treating everything from heart disease to arthritis. in the law we've already passed. now it's time to give medicare the power to renegotiate even more drugs over the next decade. if we are able to do that, we will not only save lives, we will save taxpayers an estimated 200 billion dollars. two hundred billion dollars taxpayers will not have to pay the drug companies for exorbitant prices [applause] .

-- prices. we have already cut the federal deficit by $1 trillion, signed a bipartisan budget deal to cut another $1 trillion over the next decade, if they stick with the deal. now it's my goal to cut the federal got some more by thanking paid corporations and the very wealthy begin to pay their fair share. i represent the of delaware. more corporations in delaware than every other state in america combined. but guess what, i'm a capitalist, make all the money want, just begin to pay your fair share of taxes. you have to remember the big fight i had not long ago cutting it by 7 billion in the first year. that was because we found out that we wanted to make sure there weremade $40 billion in 2.

didn't pay penny in taxes. i convinced us all to raise it to 15%. isn't that awful, and it paid for everything that we've done so far. just look at the deficit. a fair tax code is how we invest in things that make this country great, health care, education, here's the deal, the last administration enacted to trillion dollar tax code. to trillion dollar tax cutthe bs exploded the federal government. they added more to t debt than any term in american history for the last demonstration. you turn on tv and you think he's telling the truth. does anybody here think the tax code is fair, raise your hand. and the soe there. i get in trouble with the press

and i think they wouldn't even raise their hand. do you really think the wealthy and pay corporation needed to trillion dollar tax break, because he wants to do that. he wants to add another to add another $2 trillion tax code. i will keep fighting like hell to make it fair. under my■t plan, as i said, i rn for president, i promise nobody who earns less than $400,000 -- that's a lot more than i ever made, will pay an additional penny and federal taxes, not a single cent. nobody will pay single anymore. folks, it's about fundamental fairness. here's another example. obamacare became known as the■o: affoable care act. by the way, still a very big deal. [applause] over 100 million americans can no longer be denied health insurance because of a pre-existing condition.

but my predecessor and many republicans want to take that protection away for repealing the affordable care act. i won'thappen. we stop them literally 50 times. 50, 50 times in the last administration and we will stop them again. [applause] we all miss someone who cast a vote t miss the affordable care act. my buddy john mccain passed away. my predecessor and friend, th's how he ended his career, so they couldn't cut it. john loved new hampshire and it still drives my predecessor john. my mother would say, god love him. folks, i am protecting and expanding the affordable care act. record-breaking 21 million americans have signed up for health care under the aca.

including 65,000 folks great here in new hampshire. i enacted tax credits to save an average $800 per person r year reducing health care premiums for millions of working families and the affordable care act. but those tax credits expire next year. i'm calling on congress to expand the affordable care act tax credits and making them permanent. make them permanent. many of my republican friends want to push social security and medicare back on the choppin block. if anyone shies to raise a return major again, i will stop them. working people built this country and they pay more in social security than millionaires and billionaires do. it's not fa. we have two ways to go with social security and medicare. republicans will cut social security and medicare to give us more tax cuts than the wealthy. evenhisaid cuts to social securd

medicare on the table again. he changed his position and said, there's a lot you can do in ter of cutting. tremendous amount of things you can cut. tremendous amount of things you can do, not cut. the bottom line is, he is still at it. i am never going to allow that to happen. i won't cut social security, i will cut medicare. instead of giving tax breaks to the wealthy, i will protect the strength of social security a meadow where -- medicare and let them pay the fair share. my budget plan would preserve the medicaid trust fund. i am also crackingown surprise medicaid bills. here's the bill, you go out there and you do your homework. you choose the hospital and you

do what your insurance company will cover. then you get the bill there's a surprised judge because they -- because the anesthesiologist or dr. is an under your control in your insurance. that surprised bill can add up to thousands of dollars. thousands. thanks to maggie, we ended that surprise bill and we are now protectingne every single month, from those surprise bills. folks, look. my budget also cracks down on what's called facility fees for telemedicine. you get charged an extra fee if you are in a rural area and have a virtual visit for neither you or the doctor is in the facility. fee, it's wrong. we have to end it. please surprise medical bills at up to hundreds of dollars for ordis a

difference. it does generate $20 billion in profit. that's what it does. let me close with this. four years ago, this week, before i came to office, our country was hit with the worst remember the anxiety and the fear, record job losses, raging virus that would take more than one million american lives and leave millions of love ones behind. everyone behind it left behind significant people. mother, brother, brother, sister and uncle. the amount of health crisis that resulted. my predecessor failed the most t owes the american people. a duty to care. i believe that's unforgivable. i came to officeduty, to care ah one of the toughest times in our nations history. we have, building a future of american possibilities.

building an economy from the middle out and bottom up, not just the top down. when the midttom have a chance,e wealthy still do very well. investing in all america, in all amerans we leave nobody behind, nobody. our plan is working in america is coming back. four years later the pandemic no longer controls our lives. the vaccines that saved us from covid are being used to help deep cancer. et back to a comeback, that's the american story. i believe in moving into a future where health care is a right in america, not a privilege. [applause] that's why never been more optimistic about oure. we just have to remember who we are. we are the united states of america. there is nothing beyond our capacity when we do it together.

nothing, seriously, not a joke. we are the only country that has ever come out of every crisis stronger than when wwefolks, gim period. i may not get it done, but if you give me a congress, i will. i'm serious. i may not get it done, but here's the deal. we have a thousand billionaires in america. that's not a bad thing, per se. you know what the average tax rate is? does anybody want to trade their tax rate? i'm serious. if we just charge them 25%, not the highest rate, 25%, do you know how much that will raise over the next 10 years? $400 billion. imagine what wee deficit to divg

health care, to continue to provide our military with all they need. thisty. we just have to listen. we have to tell people what we want to do and hope that they figure it out, tha'going on wit. if he gets elected, he's publicly stated he would try to repeal every15 million new jobs0 manufacturing jobs. it would go on and on. but people still need help. they still need help. the folks sitting at the kitchen's table still need help on day thi on those as well. at any rate, i am taking too much of your time. you are very gracious. thank you all very much for being here. j%gas my mother would say, god bless y'all. thank you. god protect our troops. ♪ [applause] ♪\

■& >> a it's a pleasure to be here with you today to discuss federal biden's fiscal year 2025 i'd first like to take a moment that as i recognize and stand

be