Thanks. I wonder if it needs more, then.
Apparently the major component of H.R. 3 is that it requires the Medicare program to negotiate for lower prices on essential drugs. The House passed the bill in December, but the Senate has not yet dealt with it.
McConnell made this statement in September:
“Socialist price controls will do a lot of left-wing damage to the healthcare system. And of course we’re not going to be calling up a bill like that.”
Grassley has sponsored a bill in the Senate, and the President made reference to it in the SOTU.
Prescription Drug Pricing Reduction Act advanced last year out of the Senate Finance Committee, a panel chaired by Grassley.
Major provisions:
*caps what people on Medicare pay for drugs at $3,100/year beginning in 2022
*cap drug costs by forcing drug companies to give rebates to Medicare if their prices go above inflation