Trump’s Drug Rebate Rule Axed by Biden, Funds Shift to China EVs

( – Allies of former president Donald Trump are calling out the administration of President Joe Biden over the government’s supposed failure to bring down the prices of medication and healthcare premiums, especially for American seniors.

The Americans for Limited Government (ALG), a conservative activist and non-profit organization, points out that the eponymous “Bidenomics”, particularly the president’s Inflation Reduction Act, have seen premiums for Medicare Part D increase by more than 20 percent this year, which affects more than 50 million Americans. The group says that premiums are projected to increase over time in the near future, and could balloon by as much as 50 percent.

In contrast, former president Donald Trump’s rebate rule – which aims to redirect the payments from drug manufacturers to pharmacy benefit managers to senior citizens and similar beneficiaries – actually helps vulnerable seniors find better uses for their limited resources.

President Biden has often spoke of rolling back drug premiums, an in April, announced an initiative allowing for price caps for a number of key medications used by millions of Americans, such as inhalers. The president, along with several key allies in the legislature, managed to pass a measure in 2022 that limits the prices for medication for individuals on Medicare, such as a $2,000 cap on prescription drugs, and a $35 ceiling for insulin.

Furthermore, the ALG also claims that Biden has been pouring millions in taxpayer dollars into supporting EV imports from China, ostensibly in support of progressive’s push towards more sustainably-fueled vehicles in America’s car culture. The EV industry has currently been experiencing a slump, with even giants like Tesla reporting a greater than expected dip in sales during its most recent quarterly earnings report. Similarly, American automaker Ford reported a massive $1.3 billion loss on EV production for the first three months of this year. Tesla cited the increasing saturation of the EV market, with automakers like Hyundai, Toyota, and Honda, along with smaller players like Rivian cutting into market share that the Elon Musk-run automaker used to dominate.

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