Here’s one sign the affordability crisis isn’t what it used to be. You’ve probably seen the headlines.

Big win here for Trump, but also for free market competition.

• The Trump Administration has aggressively promoted direct-to-consumer sales and included PBM reforms in the Big Beautiful Bill.
• Team Trump has attracted a half trillion dollars in new biopharmaceutical investment to the US.
• Intense market competition is driving down the price of medicines, such as popular weight loss drugs.

Democrats and the media will try to credit Biden and the so-called Inflation Reduction Act, but the short list of drugs subject to Medicare price negotiations haven’t really moved the needle because individual plans had already aggressively negotiated prices.

Not only is the 3.1% drop in July the biggest on record, but this chart shows drug price increases have been historically low in both Trump terms  –  interrupted by Bidenflation.