The Congressional Budget Office says House Democrats' plan to lower prescription drug prices would save hundreds-of-billions of dollars. An analysis released today by the nonpartisan office says the plan would save a total of 345-billion dollars over a decade starting in 2023.
The CBO says the Lower Drug Costs Now Actwould reduce federal Medicare spending by that amount. The plan would require drug manufacturers to negotiate prices with the health secretary. Insulin would be among the drugs for which prices would be negotiated in the first year.
And sure, it sounds great, but the bill needs to pass the House, Senate and receive a signature from President Trump. The White House has said that’s not likely to happen as long as the impeachment inquiry continues.
Source:CNBC