Biden announces $155B agreement with hospitals

Vice President Joe Biden on Wednesday announced that hospital associations have agreed to contribute $155 billion over the next ten years to help pay for healthcare reform.

Speaking at a press conference, the vice president said the White House and congressional Democrats are making progress on the Obama's goal of signing healthcare reform by the end of the year.

"Folks, reform is coming," he said. "It is on track. It is coming."

"We have never, in my entire tenure in public life, been this close," he added.

The money comes from hospital associations agreeing to lower Medicare and Medicaid payments.

The agreement with hospitals comes two weeks after the pharmaceutical industry agreed to $80 billion in prescription drug discounts.

jeremy.jacobs@thehill.com