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As the most reliable and balanced news aggregation service on the internet, DML News App offers the following information published by APNEWS.COM:

WASHINGTON (AP) — The Senate parliamentarian narrowed Democrats’ plan for curbing drug prices but left it largely intact Saturday, Democrats said, as party leaders prepared to start moving their sprawling economic bill through the chamber.

Elizabeth MacDonough, the chamber’s rules arbiter […] said provisions must be removed that would force drugmakers to pay rebates if their prices rise above inflation for products they sell to private insurers. Pharmaceutical companies would have to pay those penalties, though, if their prices for drugs bought by Medicare rise too high.

The article goes on to state the following:

Dropping penalties on drugmakers for boosting prices on private insurers was a clear setback for Democrats. The decision reduces incentives on pharmaceutical companies to restrain what they charge, increasing costs for patients.


“This is a major victory for the American people,” Senate Majority Leader Chuck Schumer, D-N.Y., said in a statement. “While there was one unfortunate ruling in that the inflation rebate is more limited in scope, the overall program remains intact and we are one step closer to finally taking on Big Pharma and lowering Rx drug prices for millions of Americans.”

Senate Finance Committee Chairman Ron Wyden (D-Ore.) was “disappointed” that the penalties were dropped, but he said “the legislation nevertheless puts a substantial check on Big Pharma’s ability to price gouge.”

MacDonough also green lit clean air provisions in the measure, including a provision that limits electric vehicle tax credits to automobiles assembled in the U.S., signed off on a fee for excess emissions of methane from oil and gas drilling, let stand environmental grants to minority communities and other initiatives for reducing carbon emissions, approved a provision requiring union-scale wages to be paid if energy efficiency projects are to qualify for tax credits, and approved the provision limiting the electric vehicle tax credits to vehicles assembled in the United States.

Sen. Doug Marshall (R-Kansas) tweeted, “Democrats’ plans for drug price controls will hurt, not help Americans by squelching innovation and cures.”

To get more information about this article, please visit APNEWS.COM.

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2 COMMENTS

  1. Such bull shit. Medicare raised their prices Jan 2022 I was paying $15.32 before Jan, on Jan it went up to $55.45. Biden and his administration suck. They hate Americans.

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