Democrats’ campaign to control drug prices is on the verge of collapse

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On Thursday, negotiations continued over the funding for the measure, with White House officials and Congressional Democrats discussing proposals to bolster the Internal Revenue Service’s efforts to collect unpaid taxes and raise taxes on income received abroad by American multinationals. Ms Sinema, who has rejected the idea of ​​increasing personal income or corporate tax rates, said she would accept enough other tax measures to pay a lump sum of up to $ 2 trillion in 10 years, which is a breakthrough for the total cost.

For supporters, defeat after defeat on the measurement of drug prices speaks only of the power of the pharmaceutical industry and its lobbyists who go with it.

But opponents say it reflects the complexity of the issue. Advanced countries with fixed government purchase prices have seen limited access to drugs, either by pharmaceutical companies or by governments choosing their preferred drugs.

This could lead to a repeat of the political problems faced after the Affordable Care Act was passed, when President Barack Obama’s promise that “if you love your doctor, you can keep your doctor” turned out to be false. Medicare recipients might find prescriptions they’ve taken for a long time suddenly unavailable.

“If anyone thinks this is the easy political route for me, it is just laughable,” said Peters, who has faced contempt and pressure from fellow Democrats but including the San Diego District includes nearly 1,000 biotechnology companies and 68,000 jobs directly related to the pharmaceutical industry. job.

Mr Schrader and Mr Peters said the House’s version of prescription drug price controls, embedded in broader social policy legislation, would stifle innovation in one of the world’s most profitable industries in the world. country.

The Pharmaceutical Research and Manufacturers of America, known as PhRMA, also argues that government negotiations would significantly limit the types of prescription drugs that would be available to Medicare beneficiaries, warning that companies would simply remove their products from the program. With the goodwill the industry has accumulated with its coronavirus vaccines and treatments, pharmaceutical companies have taken their case to key lawmakers and joined the broader business community.


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