House Speaker Nancy Pelosi, D-Calif., will introduce Thursday her long-anticipated plan to lower the cost of prescription drugs. It is a priority shared by President Trump, fueling a glimmer of hope that there is a deal to be had on the issue ahead of the 2020 elections.
The speaker’s proposal would allow the federal government, through the Health and Human Services secretary, to negotiate prices for the top 250 most expensive drugs on the market that don’t have at least two competitors. The amounts would be pegged to the costs of the same drugs in other countries — which are generally much cheaper — under an “international price index.” It would also levy steep fines on drug companies that refuse to engage in negotiations, and put limits on how much drug costs can go up.
It is rare for the speaker to take an early and formative role in crafting a bill — policy work generally left to committees — so Pelosi’s engagement on the issue sends a clear message that the bill is a top priority for the party. Her office has been quietly negotiating the details of the proposal for months, which Pelosi has run by moderate and progressive factions within the Democratic Caucus ahead of today’s official release.
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