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I remember Trump saying he was going to do this during his presidency and my parents who are trump fans are like "well Biden didn't do this, Trump got it started and he took the credit". Which I don't believe for a second. So what exactly happened to Trump's original plan? I assume it only benefited the rich or something like all his plans and Biden scrapped it to replace it with something better?
If it's a good thing, Trump started it, if it's a bad thing, Biden did it
The whole argument is absurd because neither one did anything, the companies themselves did this voluntarily and can switch it back at any time because there's no federal statute or regulation to stop them
You didn't read the article did you?
They cite multiple factors but the largest seems to be a change to the way Medicare rebates are paid. Starting Jan 1st, this move allows them to pay less rebates to Medicare based on how they're calculated and will save the companies millions. So yes... it's actually directly based on the Biden administration changes.