Dems rev up efforts to lower drug prices
A lot has been removed from Democrats’ major economic package, but there’s still a long-held goal for the party that they’re hoping to pass: Lowering prescription drug prices.
The bill, which could get a Senate vote in the next two weeks, would allow Medicare to negotiate lower prices for some prescription drugs for the first time, a goal Democrats have been pushing for years.
It appears that Democrats have the votes to pass the measure without any GOP support, but a range of obstacles loom in the final stretch.
- Republicans and the powerful pharmaceutical industry are fiercely opposed to the measure.
- With a razor-thin margin in a 50-50 Senate, the absence of any Democratic senators due to COVID-19 or other reasons could throw off the party’s plans.
Two or three years of ACA subsidies? The bill would also extend increased financial assistance to help people afford their health insurance premiums under the Affordable Care Act.
The extension of the extra help is likely to be for two years, though sources say there is some discussion of increasing it to three years. Adding the extra year would avoid setting up a cliff right before the 2024 presidential election.
