As Congress prepares to debate limits on prescription drug costs as part of a massive spending bill, President Joe Biden reiterated his support for proposals that would allow the federal government to directly negotiate Medicare’s prices with pharmaceutical companies.
The odds of such a proposal being enacted remain long, however, as differences may be emerging between legislation in the House and Senate that would need to be worked out before a bill could reach Biden’s desk. Strong opposition from pharmaceutical manufacturers and thin Democratic majorities in both chambers will also make it an uphill battle, as will the White House’s need to work with drugmakers to address the COVID-19 pandemic.
