The act aims to reduce healthcare costs by allowing Medicare to negotiate prescription drug prices for certain high-cost drugs, capping out-of-pocket costs for Medicare Part D beneficiaries, and extending enhanced Affordable Care Act subsidies through 2025. It also imposes a new excise tax on stock buybacks by publicly traded corporations, with the revenue partially funding the Medicare trust fund. These measures are intended to make healthcare more affordable and extend coverage for individuals. Reference: [26 U.S. Code § 4501](https://www.law.cornell.edu/uscode/text/26/4501) (Stock Buyback Excise Tax)
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