“By empowering Medicare to directly negotiate prices for prescription drugs Congress can end the days of seniors missing lifesaving medications because they cannot afford them,” said Majority Leader Chuck Schumer.
By Jon Queally Published 7-9-2022 by Common Dreams
The Congressional Budget Office said Friday that a pending proposal by Senate Democrats to allow Medicare to negotiate directly with drug companies for lower prices would yield nearly $290 billion in savings and new revenue over ten years of implementation, a predictable yet crucial finding as lawmakers try to revitalize a legislative deal in the coming weeks.
The Democratic effort to revitalize a broader reconciliation package that could be passed in the narrowly-split Senate without Republican votes is considered the best that can be achieved after Sens. Joe Manchin and Kyrsten Sinema tanked the much larger Build Back Better plan—one that included sweeping climate provisions and other social investments—last year. Continue reading
