Schumer: Dems Have Deal On Lower Prescription Prices

The Hill reports:

Democratic lawmakers have reached a deal on legislation to lower prescription drug prices to be included in President Biden’s social spending package, Senate Majority Leader Charles Schumer (D-N.Y.) announced Tuesday.

The agreement is less far-reaching than earlier Democratic proposals, but still represents progress on an issue the party has campaigned on for years.

The agreement would allow Medicare to negotiate drug prices in limited instances, prevent drug companies from raising prices faster than inflation and cap out-of-pocket costs for seniors on Medicare at $2,000 per year.

Read the full article.

Senate Majority Leader Chuck Schumer announces a deal to lower prescription drug prices in the Build Back Better. Sen. Sinema has agreed to the deal. Schumer said, “I think we’re there.” The cost of insulin for example will drop to $35 a dose, according to Schumer. pic.twitter.com/FZI0v2kVkq

— Sarah Reese Jones (@PoliticusSarah) November 2, 2021