‘It’s Extortion, It’s Exploitation!’ Biden Rails Against Companies That Hit Patients with ‘Surprise Medical Bills’

President Joe Biden pledged not to cut Medicare or Social Security on Tuesday night during his State of the Union address. He also blasted healthcare companies for “taking advantage” of Americans by hitting them with unexpected bills.

Healthcare was one of the many matters Biden discussed during a 72-minute address that some Republicans jeered at various points.

“I won’t cut a single bit of Medicare or Social Security,” he told the joint session of Congress. “In fact, we’re gonna extend the Medicare trust fund at least two decades because that’s gonna be the next argument. How do we keep it solvent, right? Well, we’ll not raise taxes on anyone making 400 grand, but we’ll pay for it the way we talked about – by making sure that the wealthy and big corporations pay their fair share.”

Biden then accused corporations of exploiting the tax code:

Here’s the deal. They aren’t just taking advantage of the tax code, they’re taking advantage of you, the American consumer. Here’s my message to all of you out there: I have your back. We’re already preventing Americans from receiving surprise medical bills, stopping $1 billion [in] surprise bills per month so far.

But protecting seniors’ life savings by cracking down on nursing homes that commit fraud, endanger patient safety, prescribe drugs that are not needed. Millions of Americans can now save thousands of dollars because they can finally get a hearing aid over the counter without a prescription.

Look, capitalism without competition is not capitalism. It’s extortion, it’s exploitation.

Watch above via CNN.