Vice President JD Vance pitched the TrumpRx drug pricing initiative and Trump Accounts as the administration’s top economic wins, with the midterm elections days away.
Vance made the remarks on an episode of The Sean Spicer Show that aired Friday. He said he talks about TrumpRx in every speech.
TrumpRx Targets Drug Pricing Gap
“It is one of the most significant achievements… as much as the Democrats talk about how they care about drug affordability and pharmaceutical prices, Donald Trump actually did something about it,” Vance said.
TrumpRx is the administration’s effort to lower prescription costs. Vance said it began when Trump pressed drugmakers over pricing, claiming they charge European buyers about 20% of U.S. prices. He said Trump threatened penalties, and the companies agreed.
Vance did not name the companies. The host, however, cited GLP-1 drugs, popular diabetes and weight-loss medications, as an example of household savings.
Last month, Public Citizen, a consumer group that backs lower U.S. drug costs, said released contracts with Pfizer Inc. (NYSE:PFE) and Eli Lilly and Co. (NYSE:LLY) are heavily redacted, leaving the financial impact unclear.
Can Trump Accounts Build Long-Term Wealth?
Vance then turned to Trump Accounts, which he framed as a way to give children a stake in the future. He said he wants “a generation of Americans who own something.”
In July, President Donald Trump said that the government had deposited $1,000 into more than 500,000 Trump Accounts. The seed money applies to eligible children born between Jan. 1, 2025, and Dec. 31, 2028.
Vance described a child with $2,000 in an account growing to “tens of thousands of dollars” by age 18, without specifying investments or returns.
He tied both policies to “economic nationalism,” which he said aims to help Americans build “a little bit of a cushion” beyond paycheck-to-paycheck living.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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