Trump rescinded Executive Order 14087, "Lowering Prescription Drug Costs for Americans," which directed Medicare and Medicaid agencies to research and implement models for lowering the costs of prescription drugs. Separate provisions in the Inflation Reduction Act of 2022 also aimed at lower prescription drug costs are still in effect.

Donald Trump axed all that yesterday as he signed a flurry of new executive orders. One of his first actions was to rescind 78 Biden-era executive actions, including Executive Order 14110 on “Safe, Secure, and Trustworthy Development and Use of Artificial Intelligence.”

President Trump is rescinding Biden’s Executive Order on prescription drug costs. A change that could significantly affect Americans with chronic health conditions and fixed incomes.