“According to the Congressional Budget Office,” the Inflation Reduction Act “will save the federal government $160 billion over the next 10 years because Medicare will be paying less for the prescription drugs they’re making available to seniors.”
What PolitiFact found
The Congressional Budget Office projects 10-year cumulative savings of $161.7 billion from two provisions of the 2022 Inflation Reduction Act. But $44.3 billion of that will be plowed into other Medicare initiatives.
Their words, from the summary they publish with the rating.
In short
Joe Biden (president) made this claim around 29 August 2023. PolitiFact (United States) looked into it and published its finding on 31 August 2023, 2 days later. Its rating was “Mostly True”.
Joe Biden has 509 checked claims in this archive. Fact-checking organisations rated 140 of them false or fake, 281 misleading or mixed and 34 true.
Where the claim appeared
- whitehouse.govhttps://www.whitehouse.gov/briefing-room/speeches-remarks/2023/08/29/remarks-by-president…
Links recorded by PolitiFact. Some posts may have been deleted since.
This check was done by PolitiFact, not by DoesItStand. We list it so you can find it. Their full evidence and reasoning are in their article.