Dozens of progressive advocacy groups marked World Diabetes Day on Monday by urging Congress to pass legislation that would ensure people in the United States have access to the insulin on which their survival depends and prevent Big Pharma from price gouging on the lifesaving medicine.
In a letter addressed to Senate and House leaders, Public Citizen, T1International, and more than 50 other organizations wrote: “World Diabetes Day marks the birthday of Frederick Banting, who discovered insulin and famously sold its patent for $1 and stated, ‘Insulin does not belong to me, it belongs to the world.’ Despite its discovery more than 100 years ago and the generosity of Banting and the co-inventors, many people living in the United States still struggle to afford access to the insulin they need.” Continue reading →
During the debate Trump claimed that insulin is now “so cheap it’s like water,” but A 10ml vial of insulin from Novo Nordisk or Eli Lilly, for example, costs Americans $290, ranking it alongside the likes of Chanel No. 5 and scorpion venom as among the most expensive liquids in the world.
One of Trump’s more questionable claims he made at the now infamous first presidential debate was that he was driving down medical costs for ordinary Americans. Under his presidency, the 74-year-old New Yorker claimed, diabetes medicine insulin had gone from so expensive that it was “destroying families” to “so cheap it’s like water.” “This is big stuff,” he added.
Trump had indeed signed an executive order on insulin in July. But the scope of the new legislation was extremely limited, targeting only a small group of health care providers and benefitting only two percent of the relevant outlets for insulin. In reality, insulin prices have tripled in the last decade, rising to new exorbitant highs not seen anywhere else in the world. A 10ml vial of insulin from Novo Nordisk or Eli Lilly, for example, costs Americans $290, ranking them alongside the likes of Chanel No. 5 and scorpion venom as among the most expensive liquids in the world. Continue reading →
“Corporations zeroing out their tax bills or paying single-digit federal tax rates mean a substantial loss in federal revenue. Calls to cut critical programs and services in the wake of these corporate tax cuts are absolutely connected.”
Steve Mnuchin, Mike Pence and Gary Cohn watching the Senate vote on the 2017 tax bill. Photo: White House
A new analysis out Thursday shows that tax policy under the Trump administration is benefitting large corporations to such a degree that twice as many large companies will pay nothing in federal taxes for 2018 compared to previous years.
The report by the Institute on Taxation and Economic Policy, which comes less than a week before tax day in the United States on April 15, found that 60 companies—including Amazon, Netflix, Activision Blizzard, General Motors, and IBM—used “a diverse array of legal tax breaks” to bring their federal tax liability to zero. Continue reading →
After Azar suggested he supports block granting Medicaid as a “concept to look at” but refused to say whether he would move in that direction if confirmed, Warren said, “Mr. Azar, you can own up to the fact that you want to cut Medicaid and gut the Affordable Care Act, like every other member of the Trump administration.”
by Robert Faturechi ProPublica, June 1, 2017, 8 a.m.
Tom Price. Photo: Gage Skidmore [CC BY-SA 2.0], via Wikimedia Commons
In the spring before the 2016 presidential election, the Obama administration’s 12-nation trade agreement known as the Trans-Pacific Partnership, or TPP, was still alive. Negotiators worked on details as Congress considered whether to ratify the pact.
The Australian government was getting in the way of one change demanded by U.S. pharmaceutical companies. Makers of cutting-edge biological drugs wanted to have data from their clinical trials protected from competitors for 12 years, as they are under U.S. law 2014 not the roughly five years permitted under the TPP. Australian officials insisted that an extension would deprive consumers of cheaper alternatives for too long. Continue reading →