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Will Social Security’s 2026 COLA offset rising everyday costs?

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Medicare Part B increases strain 22 million retirees whose sole income is Social Security
By Charlene Crowell
October 16, 2025
As the federal government shutdown that began on October 1 continues, over 74 million citizens await an important but delayed announcement: Social Security’s 2026 Cost of Living Adjustment, also known as COLA. Originally planned for October 15, the 2026 COLA will now be announced on October 24.
The delay is caused by the need to complete the third quarter’s Consumer Price Index (CPI) report that spans data for the three months of July, August, and September.  This report is an essential part of annual COLA calculations. Employees with the Bureau of Labor Statistics were recently called back for its completion.  Legally, the Social Security Administration is required to announce the annual COLA before November 1 each year to ensure timely implementation of the increase the following January.
“For many people, Social Security is the only inflation-protected income they have in retirement,” Bill Sweeney, AARP’s senior vice president of government affairs, says. “And for more than 50 years, the COLA has allowed America’s seniors to keep up as everyday costs continue to rise — from groceries to housing to prescription drugs.”
Yet for many retirees, this theory of keeping benefits in line with costs is not their reality. The proverbial ‘golden years’ all too often are tarnished by financial strains due to rising costs that challenge older Americans’ financial stability.
Social Security alone is enough to cover the living expenses in only 10 states, according to the Realtor.com® analysis of median Social Security benefits by state and the Elder Economic Security Standard Index. Everywhere else, retirees face shortfalls that can be thousands of dollars per year.
Nearly 22 million seniors are estimated to live on Social Security alone, according to a recent   study by The Senior Citizens League (TSCL). The league also estimates that nearly three-quarters of all seniors rely on Social Security for at least half their income, underscoring how important it is to understand the difference between living expenses and what Social Security can realistically cover.
“With nearly three-quarters of seniors depending on Social Security for at least half their income, any cuts to the program or reductions in benefits would push millions of hard-working Americans further into poverty, robbing them of their right to retire with dignity,” says TSCL Executive Director Shannon Benton.
Additional findings from TSCL show 94 percent of respondents felt the 2025 COLA of 2.5 percent was too low and that their benefits grow more slowly than inflation. Nearly all respondents (95 percent) said reforming Social Security and Medicare should be a top priority for the Presidential Administration and Congress.
The average monthly Social Security check for retirees was $2,008.31 this past August, as reported by Kiplinger.  Further, state-by-state comparisons show that retirees receive in 26 states receive less. Beneficiaries in Kentucky, Louisiana, and Mississippi, for example, receive approximately $1,800 each month. Conversely, highest monthly benefits are received in Connecticut, Maryland, and New Jersey, with recipients in each state surpassing $2,100 each month.
A 2025 Social Security survey released in August by the Harris Poll and underwritten by Nationwide. Its findings included:
  • Current benefit levels cover only 59 percent of seniors’ retirement expenses.
  • 56 percent say they could not financially survive missing even half of the monthly payment.
  • 52 percent have had to reduce discretionary spending due to rising living costs outpacing benefits.
  • Half of retirees are terrified of the impact tariff pricing changes will have on their retirement income or retirement savings; and
  • More than 4 in 5 Americans are concerned about the long-term viability of Social Security.
Social Security’s modest benefits are further reduced by the rising costs of Medicare Part B premium payments that are deducted from most benefit checks.
This year, most retirees pay a $185 monthly premium. Based on the 2025 Medicare Trustees Report filed in mid-June, themonthly premium for Part B is projected to rise by 11.5 percent to $206.20 in 2026. It would be the eighth time in the last quarter century that the Part B premium has risen by a double-digit percentage on a year-over-year basis, as reported by The Motley Fool.
Medicare Part B covers items such as services from doctors and other health care providers (in-office or outpatient); preventive services like screenings, vaccines, or other shots; outpatient care; durable medical equipment like wheelchairs or walkers; and home health care.
With no end in sight for the federal government shutdown, partisan debates have emerged over future health care funding – particularly for families enrolled in the Affordable Care Act. As America’s population continues to age, the future of Medicare funding also must be a part of that important debate – particularly when the Social Security Trust Fund is projected to run out of money by 2033.
Systemic, long-term improvements to Social Security and health care are in the best interests of the nation. Here’s hoping Congress will recognize and respond to this reality.

Trump and GOP Drive Shutdown While Families Face Soaring Premiums

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The United States capitol building with a crack and red Government Shutdown stamp

By Stacy M. Brown
Black Press USA Senior National Correspondent

MAGA Republicans have shut down the government once again after lawmakers failed to strike a deal to keep the lights on, leaving hundreds of thousands of workers without pay and millions of Americans facing the possibility of losing affordable health care. At the center of the crisis is a dispute over Medicaid and the Affordable Care Act. Democrats are demanding that subsidies be extended and that deep Medicaid cuts be reversed. Republicans, led by President Donald Trump, have rejected those calls and pushed ahead with a funding bill that excludes the protections. The result is a standoff with devastating consequences. Officials told Black Press USA that the shutdown will furlough roughly 750,000 federal employees each day in an already compromised economy, with Trump’s administration warning that many will not simply be furloughed but permanently laid off. A memo from the Office of Management and Budget directed agencies to prepare not only for temporary cuts but for reduction-in-force notices that would erase positions. Entire programs that fall outside of Trump’s priorities are at risk of being dismantled.

Democrats blocked the Republican plan after warning that allowing the subsidies to expire would make health insurance unaffordable for millions of working families. Senate Minority Leader Chuck Schumer and House Minority Leader Hakeem Jeffries said the fight is about protecting ordinary people from financial ruin. They stated that Trump is ignoring the suffering of Americans and instead is “obsessively posting crazed deepfake videos” while refusing to negotiate in good faith. The financial stakes are clear. According to new research from KFF, premiums for many families are already expected to rise by more than 100 percent if enhanced tax credits are not extended. Nearly 24 million Americans who buy their own coverage could see their costs double or even triple. For low-income enrollers, the losses would be crushing. A worker in Texas making $23,000 annually would see premiums jump from zero to $920, an amount equal to nearly a quarter of their annual food budget. Moderate-income households face even starker realities. A 60-year-old couple in Florida earning $85,000 would lose more than $16,000 in tax credits and see premiums soar by $21,000 in a single year. Their coverage would consume nearly one-third of their income.

The increases come at a time when families are already under strain from inflation. Rising food, housing, and utility costs are combined with health expenses to push working households closer to the brink. The burden will fall hardest on small business owners, farmers, and gig workers, groups that Republicans often claim to represent. KFF analysis also shows that Black Americans, who disproportionately rely on ACA coverage, will be among those most severely affected. Many already live on thinner margins and face higher rates of chronic illness. For those families, the spike in health care costs combined with the threat of Medicaid cuts could be devastating. Meanwhile, the Department of Health and Human Services will furlough nearly half of its staff. At the Centers for Disease Control and Prevention, work to track disease outbreaks will continue, but prevention research will stop. At the National Institutes of Health, patients already enrolled in clinical trials will continue receiving treatment, but no new patients will be admitted to potentially life-saving studies. The Food and Drug Administration warned that its ability to review new drug applications and medical devices will be severely impaired.

The damage extends beyond health care. National parks will remain open with skeletal staffing, risking vandalism and safety hazards. Smithsonian museums will stay open for a few days, but could eventually shut down. Federal contracts will stall, benefit payments could face delays, and agencies from education to environmental services will be hamstrung. Economists warn that the longer the shutdown continues, the greater the impact on the broader economy. Goldman Sachs projected that gross domestic product will fall by 0.15 percentage points each week as the government remains closed, with effects rippling into the private sector and eroding consumer confidence. Wall Street already reacted with early losses as markets opened on the first day of the shutdown.

The political standoff is showing no signs of easing. MAGA Republicans have no appetite to digest Americans enjoying affordable healthcare and have prioritized tax breaks for billionaires instead. Democrats insist there will be no deal without protections for the Affordable Care Act and Medicaid. Both sides know the stakes reach beyond the shutdown. For Democrats, the fight is about protecting vulnerable Americans. For Trump and Republicans, it is about cementing an agenda that weakens federal programs and reshapes health care in the name of cost-cutting. As the shutdown enters its first days, millions of Americans are left in limbo. Families struggling to pay for food and rent now face the prospect of health care costs doubling or tripling. Schumer and Jeffries issued a warning in their joint statement. “President Trump’s behavior has become more erratic and unhinged,” the duo stated jointly. “Instead of negotiating a bipartisan agreement in good faith, he is obsessively posting crazed deepfake videos.”

Minority-Owned Businesses Shut Out as Loan Denials Soar

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Small business loan application on the wooden surface and documents.

By Stacy M. Brown
Black Press USA Senior National Correspondent

The doors of opportunity remain locked for too many. A new LendingTree analysis reveals that Black-owned businesses faced the highest rejection rate for financing in 2024, with 39% denied loans, lines of credit, or merchant cash advances. Hispanic-owned businesses followed at 29%. By contrast, just 18% of white-owned businesses were turned away.

The figures draw a map of inequality, where capital flows freely to some and is dammed up for others. The report shows that one in five businesses overall—21%—were denied financing last year, a number nearly unchanged from 2023. But beneath that flat surface lies a story of disparity: while white-owned companies hit roadblocks less often, Black and Hispanic entrepreneurs carried the brunt of rejection. Size and age also stacked the deck. Firms with just one to four employees were denied 26% of the time, five times the rate of larger firms. Startups fared poorly, but even businesses with three to five years under their belts faced the highest denial rate, at 29%. By loan type, SBA loans and lines of credit proved the hardest to secure, with nearly half—45%—rejected.

The reasons mirror a harsh economy. High interest rates, inflation, and an unsteady job market have made banks wary. Community development financial institutions, often praised as a lifeline for underserved communities, turned down applicants 34% of the time. Large banks followed at 31%. Matt Schulz, LendingTree’s chief consumer finance analyst, said the trend is part of a larger retreat by lenders. “Inflation, tariffs, high interest rates, and a slow job market are making things tough on small businesses and the customers they’re trying to attract,” he said. “[With] this uncertainty, banks pull back—as they tend to do in risky, unpredictable times. Standards for lending to consumers and businesses have generally been tight for some time, and that’s unlikely to change soon.”

Trump’s Trade War Hits Black America Hardest as Tariffs Drive Up Costs

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By Stacy M. Brown
NNPA Newswire Senior National Correspondent
@StacyBrownMedia

President Donald Trump’s latest round of tariffs—25% on imports from Canada and Mexico and 10% on imports from China—has sent shockwaves through global markets, sparking retaliatory measures from trade partners and raising concerns about the economic strain on American consumers. But for Black Americans, already facing disproportionate financial burdens, the fallout could be devastating.

“Will there be some pain? Yes, maybe (and maybe not!),” Trump said in a statement. “But we will Make America Great Again, and it will all be worth the price that must be paid.”

For many in Black communities, the cost of that “pain” is far from abstract. Chaniqua Jones, a schoolteacher in New York, is already struggling with budget cuts in her district. “First, consider that most of our students struggle with basic necessities like food and shelter, and many tell us that if they can’t work, they can’t eat,” she said. “That and reduced school budgets that we’re already dealing with will hurt more because, something to remember, we can only use one vendor that the Department of Education approves for supplies, and that vendor can charge anything they want, including, if they choose, as much as $10 for a pencil.”

Jones’ concerns are echoed by business owners, truck drivers, and families who will feel the effects of higher prices in ways the White House appears to have ignored. Jonathan Dolphin, a truck driver from Pennsylvania, sees the changes already. “The trucking industry isn’t the same anymore,” he said. “Hauling heavier loads doesn’t pay us more, and the brokers still charge higher rates. Those people who voted for Trump now have to see how idiotic that was.”

Fuel prices are among the biggest concerns for working-class Black Americans. Canada, the largest supplier of crude oil to the U.S., is now facing a 10% tariff on energy exports. Gas prices in some parts of the country are expected to rise by 30 to 70 cents per gallon, disproportionately impacting on lower-income families who spend a higher percentage of their income on transportation.

George McKenzie, a wildlife photographer in Florida, has already seen gas prices climbing. “I’m honestly worried about the price of gas and food going up,” he said. “As someone who travels frequently for work, any increase in fuel costs directly affects my livelihood.”

Existing disparities in Black communities compound the economic damage from the tariffs. The median household income for African Americans in 2023 was $52,860—well below the national median of $74,580. The racial wealth gap, exacerbated by decades of discriminatory housing and employment policies, means Black families have fewer financial reserves to absorb rising costs.

The tariffs also threaten the already fragile food security in Black communities. The U.S. imports 63% of its vegetables and 47% of its fruits and nuts from Mexico, and tariffs could push grocery prices even higher. Many predominantly Black neighborhoods already struggle with food deserts—areas with limited access to affordable, healthy food. Higher food costs could worsen the crisis.

“It’s already expensive to eat healthy where I live,” said Alicia Brown, a 28-year-old mother of two in Chicago’s South Side. “A gallon of milk is already $5. If they start charging more for fresh produce, people are going to have to make tough choices between food and rent.”

The auto industry, another key economic driver, is also set to take a hit. In 2023, the U.S. imported $69 billion worth of cars and light trucks from Mexico and $37 billion from Canada. Ford F-Series pickups and Mustang sports coupes rely on engines manufactured in Canada. Tariffs on auto parts will drive up costs, adding an estimated $3,000 to the price of some vehicles.

For Black auto workers in cities like Detroit and Atlanta, job security is now in question. Many automakers are considering layoffs or plant closures if production costs soar.

“We’re looking at a repeat of what happened in 2018 when Trump’s first tariffs led to layoffs,” said Maurice Richardson, a 58-year-old autoworker in Michigan. “Except this time, it’s going to be worse.”

The trade war has already drawn strong pushback from U.S. allies. Canadian Prime Minister Justin Trudeau called Trump’s move “short-sighted and reckless,” adding, “If he thinks Canada will just sit back and accept these tariffs without response, he is gravely mistaken.” Canada has announced its own retaliatory measures, imposing a 25% tariff on $155 billion worth of U.S. goods.

Mexico, meanwhile, has slammed Trump’s justification for the tariffs, with President Claudia Sheinbaum calling it “an unjustified economic attack.” Mexico has signaled it may retaliate with tariffs on American exports, including corn and soybeans—moves that would further impact U.S. farmers and lead to even higher grocery prices.

China, the third nation targeted by Trump’s new tariffs, has also vowed to take action. The Chinese Ministry of Commerce announced plans to file a complaint with the World Trade Organization, warning that “the U.S. has chosen a path of confrontation that will hurt American workers more than anyone else.”

In Washington, Congress’s response has been swift. Senate Minority Leader Chuck Schumer criticized the tariffs. “It would be nice if Donald Trump could start focusing on getting the prices down instead of making them go up,” Schumer stated.

“All tariffs are not created equal. Donald Trump is aiming his new tariffs at Mexico, Canada, and China, but they will likely hit Americans in their wallets. I am concerned these new tariffs will further drive-up costs for American consumers.”

The senate leader continued:

“We should be focused on going hard against competitors who rig the game, like China, rather than attacking our allies. If these tariffs go into full effect, they will raise prices for everything from groceries to cars, to gas, making it even harder for middle-class families to just get by.”

The economic storm created by Trump’s trade war is already brewing. The U.S. economy saw inflation drop from its peak in 2022, but analysts now predict a sharp reversal, with costs climbing for everyday necessities. African Americans, who have historically been left behind in economic recoveries, are likely to bear the brunt of the damage.

“This is what happens when policy is made without thinking about the people who will be most affected,” said Dr. Jamal Reed, a District of Columbia-based economist. “This isn’t just an inconvenience. It’s an economic disaster waiting to happen.”

Inflation Hits Lowest Level Since Pandemic as Consumer Prices Stabilize

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By Stacy M. Brown
NNPA Newswire Senior National Correspondent

@StacyBrownMedia

According to the latest Consumer Price Index (CPI) report from the Bureau of Labor Statistics, inflation in the United States has slowed to its lowest level since the early months of the pandemic. The CPI for All Urban Consumers rose by 2.4% over the past year, a substantial easing from the higher inflation rates seen over the last two years. September’s monthly increase of 0.2% matches the growth recorded in August and July, indicating a steady, moderate rise in consumer prices.

The most significant contributors to the monthly increase in CPI, a vital indicator of inflation that measures the price change for goods and services affecting consumers’ daily lives, were shelter and food, which comprised over 75% of the overall rise. Food prices alone increased by 0.4% in September, with the cost of meats, poultry, fish, and eggs rising sharply by 8.4%. Fruits and vegetables also saw a notable increase of 0.9%. These rises reflect ongoing pressures on household budgets as essential goods continue to grow more expensive.

The nonprofit Prosperity Now said the index showed housing prices increased by 0.2%, remaining a major stumbling block for American families seeking security and economic stability. The organization noted that housing costs remain a significant hurdle for families striving to build wealth and achieve long-term financial security through homeownership.

“Homeownership has long been one of the most reliable ways to build wealth in this country, but for far too many families, it remains out of reach,” said Marisa Calderon, President and CEO of Prosperity Now. “While it’s encouraging to see inflation slow, we must ensure that economic gains translate into real opportunities for families to build a more secure financial future.”

A cooling of inflation could bode well for African Americans. Research in 2022 revealed that, at a time when households across the U.S. widely reported experiencing serious problems from inflation, Black Americans were disproportionately affected by rising costs. According to a poll conducted by NPR, the Robert Wood Johnson Foundation, and the Harvard T.H. Chan School of Public Health, 55% of Black Americans report facing serious financial difficulties, compared to 38% of white Americans. The survey also showed that Black Americans are more likely to lack emergency savings, with 58% unable to cover even a month of expenses, compared to 36% of white respondents. Food insecurity also presented a more pressing issue, as 32% of Black Americans report struggling to afford food, compared to 21% of white Americans.

Meanwhile, the latest CPI Index revealed that energy costs declined 1.9% over the past month. Gasoline prices dropped by 4.1%, continuing their downward trend and offering some relief to consumers. Over the past 12 months, the energy index has decreased by 6.8%, primarily due to a significant 15.3% drop in gasoline prices and a steep 22.4% decline in fuel oil costs. Meanwhile, electricity and natural gas costs have seen smaller increases of 3.7% and 2.0%, respectively.

Excluding the more volatile food and energy sectors, the CPI rose by 0.3% in September. This broader measure of inflation, which includes categories such as healthcare, motor vehicle insurance, and apparel, reflects more sustained price increases across various goods and services. Medical care costs, which had previously declined, increased by 0.4% this month, while motor vehicle insurance and airline fares both saw notable jumps, rising by 1.2% and 3.2%, respectively.

Shelter costs have increased over the past year by 4.9%, forming a significant part of the overall inflation picture. Motor vehicle insurance costs have surged by 16.3% annually, reflecting heightened expenses in this sector. In contrast, other categories, such as recreation and communication, saw slight decreases of 0.4% and 0.6% this month, respectively.

With inflation now easing to pre-pandemic levels, the latest data suggests that while some price pressures remain, particularly in essential areas like housing and food, overall price growth is moderating. “We keep making progress, with inflation returning to pre-pandemic levels, 16 million jobs created, lower interest rates, and low unemployment,” said White House National Economic Advisor Lael Brainard. “Our economy has grown 3.2 % per year under the Biden-Harris Administration—stronger than during the previous administration,” Brainard continued.

“Incomes are up almost $4,000 after adjusting for inflation. President Biden and Vice President Harris will keep fighting to lower costs—by building new homes to lower rents, capping prescription drug costs and reducing health insurance premiums, and lowering taxes for middle-class families—as Congressional Republicans keep pushing trickle-down economics that would raise costs by nearly $4,000 per family while cutting taxes for billionaires and big corporations.”

Inflation Slamming Black America Hard as Families Struggle with Necessities

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According to the Brookings Institute, the median wealth of a white household is $188,200, which is 7.8 times more than the average Black household at $24,100.

By Stacy M. Brown, NNPA Newswire Senior National Correspondent
@StacyBrownMedia

Black households are more exposed to inflation fluctuations than their white peers, according to a study published by the Federal Reserve Bank of Minneapolis.

The differences, while not overwhelming, are not trivial either, the study authors wrote.

For example, if prices paid by white households increase by 7 percent over a year, calculations by researchers suggest that one may expect them to increase by 7.5 percent for Black families.

“In our research, we examine how this informs the trade-off between inflation and unemployment stabilization for White and Black households,” the study authors explained.

“The result implies that when evaluating trade-offs between inflation and unemployment, one ought to keep in mind that the costs of inflation may be borne disproportionately by the more disadvantaged group.”

With gas, food, and other prices rising, the authors concluded that necessities such as groceries, electricity, and wireless phone service make up a larger share of Black families’ budgets.

The study said that Black households are also spending a more significant portion of their income on goods and services with prices that change more often.

The result, according to researchers, isn’t a mystery: “Black families will suffer the worst effects of rising inflation because they lag behind their White counterparts in income, wealth, financial savings and home ownership.”

“Black families, especially those without an employed college graduate, are affected the most by inflation compared with all the other demographics,” said Ellie Walters, the CEO of Findpeoplefaster.com.

“Necessities like groceries, accommodation, gas, electricity bills, and phone bills eat up most of their income, leaving them with fewer savings since most of them fall within the low-income groups,” Walters stated.

She said Black families are affected by even the slightest increase in price, and with the rising recession, many might have to live without most of these necessities.

“A large number of Black families live paycheck to paycheck and cannot easily escape the constantly increasing wealth gap between them and the other demographics, especially the white,” Walters remarked.

“Inflation often makes this dilemma worse, since during inflation, wages are cut, and workers are laid off. These low-income earners, largely made up of Black community members, are trapped by an economic cycle that seems rigged against them.”

Ronda Brunson, an expert in financial planning and credit restoration at Project Restore Bmore, agreed that Black households would continue to feel the impact of rising inflation.

“Most Black homes with car notes are paying double-digit interest rates, same for credit cards. Yet, we are not conditioned to go for better but to be grateful for whatever approval without contesting,” Brunson asserted.

“If I am already paying three times more than you for the same vehicle, then of course, when inflation occurs, I’m going to feel it first.”

According to the Brookings Institute, the median wealth of a white household is $188,200, which is 7.8 times more than the average Black household at $24,100.

Two years ago, the homeownership rate for white Americans was about 73% compared to 42% for Black Americans.

William Thomas of Butler Associates said money problems remain a concern for all, although Black and Brown communities feel the pain more acutely.

Thomas offered what he said were four simple things people can do to navigate tough inflationary times.

“Make a budget, reduce any unnecessary expenses for the time being, which means assessing needs versus wants,” Thomas asserted.

“[Also], identify a Community Development Financial Institution in your area and seek financial advice from a professional. This action may support better financial choices while navigating through uncertain financial times. Finally, stick to the plan created.”

Thomas advised that when it comes to reducing expenses, evaluate every item you purchase and ask, “Is this a need or want to have item?”

He said sacrificing is essential to achieving success. This may mean brand switching for groceries and planning to switch on your phones.

“The ultimate budgeting goal is to save the savings from your plan so you can stock your bank account with a healthy cushion for important occasions like birthdays, holidays, starting a business, or a rainy-day fund,” Thomas continued.

“The best approach is to work with a trusted financial advisor, especially loan officers at your local community bank. Your local lender understands how important it is to access capital.

“Leverage their expertise to help craft a strong plan using accessible, affordable financial products to assist the effort to save while building credit and deflating the impact of inflation.”

Wisconsinites can’t afford to pay three times more for medications

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Martha Cranley, State Director, AARP Wisconsin, Madison

Would you tailgate at a Milwaukee Brewers game if a 6-pack of beer cost $28.86, brats cost $11.83 per 6-pack, and cheese cost $17.15 per pound?

Outrageous, right? Well, that would be the cost of those products if consumer prices had risen as fast as drug prices over the past 15 years. In addition to those tailgating staples, gas would cost $12.20 a gallon and milk would be $13 a gallon.

We are paying more for nearly everything today – from groceries to gas to housing. As inflation reaches its highest in 40 years, Wisconsinites and all Americans are asking what Congress can do to help them pay for the essentials they need.

For seniors, inflation is only made worse by the ever-increasing price of prescription drugs. For years Rx price increases have dwarfed even the highest rates of inflation. Just recently, Big Pharma raised prices on 800 medicines – and they have levied similar increases for decades. Every day we hear from older Wisconsinites who are forced to choose between paying for the medicines they need and paying for other essentials like food and heat.

Congress has promised for years to bring down the price of drugs. For any Senator concerned about inflation, lowering drug prices should be at the top of their to-do list. With inflation at record levels, we need them to make good on that promise now!

Unlike just about every other country in the developed world, in the U.S., pharmaceutical companies can bypass negotiations on brand name drugs and sell their products at inflated prices – a cost paid by seniors and the federal government.

It’s outrageous that Americans are forced to pay three times more than people in other countries pay for the same drugs. Especially because there is long-standing, bipartisan support for allowing Medicare to negotiate with drug companies for lower prices.

Every year, Medicare spends more than $135 billion on prescription drugs. Yet it’s prohibited by law from using its buying power to negotiate with drug companies to get lower prices. Giving Medicare the power to negotiate will save seniors and taxpayers hundreds of billions of dollars. That’s right, billions.

The U.S. Senate has a historic opportunity to finally lower Rx prices and bring relief to Wisconsin seniors. There will never be a better time to deliver on their promises or fair drug prices.

Lowering Rx prices will also save the government hundreds of billions of dollars. The nonpartisan Congressional Budget Office estimates that the latest drug pricing provisions passed by the House would save $297 billion over 10 years – including $84 billion from rebates paid for excessive price hikes and $79 billion from allowing Medicare to negotiate drug prices.

American families cannot afford to leave that kind of money on the table. Big Pharma has been price gouging seniors for too long. This is the Senate’s opportunity to fix the unfair system that’s rigged against Americans.

We will let our nearly 38 million members nationwide, including 807,000 here in Wisconsin, know whether the Senate does what’s right and finally votes to lower Rx prices or allows Big Pharma to win yet again. It’s time to get this done.

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About AARP
AARP is the nation’s largest nonprofit, nonpartisan organization dedicated to empowering people 50 and older to choose how they live as they age. With a nationwide presence and nearly 38 million members, AARP strengthens communities and advocates for what matters most to families: health security, financial stability and personal fulfillment. AARP also produces the nation’s largest circulation publications: AARP The Magazine and AARP Bulletin. To learn more, visit www.aarp.org or follow @AARP and @AARPadvocates on social media.