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Washington Healthcare Update - March 2021 #5 | McGuireWoods Consulting
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Price Controls Happen - NOT!
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Democrats are mulling including a provision to negotiate drug prices in an infrastructure bill.
Savings on government spending on prescription drugs could help pay for the infrastructure projects.
The government could save as much as $345 billion, according to the Congressional Budget Office.
Congressional Democrats want to crack down on drug prices to help pay for President Joe Biden s infrastructure package, according to several lawmakers, including House Speaker Nancy Pelosi.
Such a provision would be included in a package that lawmakers hope to pass as early as July 4 if they can gain enough support for it.
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What happens in a world where medical innovations like the vaccines that are defeating the coronavirus are no longer possible? That could be the result of a ham-handed effort to make America an “also-ran” country in the global pharmaceutical business.
Some lawmakers are trying to revive the Lower Drug Costs Now Act, a bill that passed the House in December 2019 but failed to gain support from a single Senate Republican.
With a Democrat in the White House and the Senate divided, activists see an opportunity to resuscitate the bill, also known as House Resolution 3. They have even urged Congress to pass it using reconciliation, a special legislative process that wouldn’t require bipartisan support.
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