President Joe Biden is due to speak on Monday on parts of his massive social-spending bill aimed at slashing drug prices, as top Democrats push for legislation to be passed by Christmas.
The Build Back Better plan is designed to reduce prescription drug PJP,
Costs by allowing Medicare to negotiate drug prices, reduce how much senior citizens pay for drugs, and reduce insulin prices. That widely used drug would cost $35 a month.
Senate Majority Leader Chuck Schumer, a New York Democrat, has said he wants to pass the nearly $2 trillion bill before the Christmas break – though the measure remains the subject of fierce debate among Democrats as well. Sense of West Virginia. Joe Manchin and Arizona’s Kirsten Cinemas Have Not Committed to Passing It, and Democratic Allies Are Reportedly Saying More likely to pass in January,
Schumer pushes for better pre-Christmas build back vote as Biden sheds light on job-creation plans
And: Analysts Say Biden’s Big Social-Spend Bill Will Probably Pass the Senate This Month Without Any Cuts
Meanwhile, it’s unclear whether the drug-pricing proposals will ratify Senate rules. Democrats are using a process known as reconciliation—which is reserved for legislation affecting the federal budget—to move the bill, and insulin caps, among other measures, qualify. may fail, Businesshala recently reported,
The Build Back Better Plan passed the House on November 19. In addition to drug-pricing changes, the package would create universal preschools, expand the more elaborate Affordable Care Act subsidies, fund clean-energy programs and provide tax credits for electric vehicles. This would be paid for by a new corporate minimum tax and raising taxes on high-income Americans.
Biden is scheduled to speak at the Eastern White House at 2 p.m.
Too Build Back Better – What’s In It For Seniors?