Democrats reached a deal on Tuesday to add a measure to control prescription drug costs to President Biden’s social safety net plan, agreeing to allow the government to negotiate prices for medications covered by Medicare, as the House moved closer to a vote on the sprawling bill.
Negotiators also closed in on a costly agreement to reinstate a federal tax deduction, eliminated in the 2017 tax cuts signed by President Donald J. Trump, for state and local taxes.
The prescription drug deal is limited. Starting in 2023, negotiations could begin on what Senator Ron Wyden of Oregon called the most expensive drugs — treatments for cancer and rheumatoid arthritis, as well as anticoagulants. Most drugs would still be granted patent exclusivity for nine years before negotiations could start, and more advanced drugs, called biologics, would be protected for 12 years.
But for the first time, Medicare would be able to step in after those periods, even if drug companies secure patent extensions or otherwise game the patent system.
The prescription drug compromise was hard-fought and required Democrats to overcome an onslaught of lobbying by the powerful pharmaceutical industry, which succeeded in substantially watering down their initial bid to allow the government to negotiate prices on a far broader universe of drugs. The final deal includes a $2,000 annual cap on out-of-pocket expenditures by older Americans facing catastrophic health issues, a strict $35 monthly cap on insulin expenses and automatic rebates on drugs whose prices rise faster than inflation.
But the pharmaceutical industry won its share of concessions. The inflation rebates initially contained a “look back” provision that would have assessed rebates on drug prices that began to soar as far back as 2012. That would have yielded one-time levies on drug companies in the billions of dollars. And some Democrats wanted Medicare to have price-negotiating authority immediately, with no patent exclusivity periods.
This has been the suspected bargain for a longtime: SALT for drug price reform. Blast New Jersey into the ocean. (Or don't, the ocean seems to be doing the work on its own anyway.) https://t.co/n4tSxgalzE
As a result, the top 1% would pay lower taxes after passage of the Build Back Better plan than they did after the Trump tax cut in 2017. This is beyond unacceptable.
Maybe – just maybe – Congress should respond to the demands of the American people and finally expand Medicare to cover dental, vision and hearing. pic.twitter.com/ilggPR766s
This or climate cuts would seem to me to be a more significant reason to gum up the works than the SALT repeal, but I don’t care, as long as we put the brakes on this mess at this point.
This isn’t any big deal. The so-called drug stuff is very limited and doesn’t even start for another 2 years. The usual rich yahoos make out like bandits yet again with the SALT concessions. I hope more progressives get elected to House seats. The big corrupt problem is the Senate as we all know. 💩
Sen. Bernie Sanders (I-Vt.) took a veiled swipe at Sen. Joe Manchin (D-W.Va.) on Monday after the moderate senator raised a red flag about the costs of Democrats’ social and climate spending bill.
Sanders, speaking with reporters at the Capitol, didn’t mention Manchin by name, instead addressing “anybody in the Democratic caucus or elsewhere that’s worried about fiscal responsibility and the deficit.”
“The fact is … that, according to the CBO [Congressional Budget Office], the infrastructure bill runs up to a $250 billion deficit. It’s not paid for,” Sanders said.
“The legislation that I wanna see passed … is paid for in its entirety. It will not have an impact on inflation. So if we’re talking about fiscal responsibility, I think what we’re trying to do with the reconciliation bill is the right thing,” he added.
The CBO estimated in August that the roughly $1 trillion infrastructure bill, which was negotiated by a group of senators, including Manchin, would add $256 billion to the deficit over the next decade.
SANDERS: “But this process cannot go on week after week, month after month. It's finally got to come to an end. And I will do everything I can to see that we get a vote on the floor of the Senate as soon as possible. Hopefully next week.”
yeah i wish he’d just include an expansion that the msm couldn’t pan. but it’s cool.
Paul ADK
There’s the lesson from Virginia. Want to run as a corrupt corporate Clinton Democrat? Be prepared to lose. Why vote for a shadow when the alternative is the full blown horror? It’s been that way as long as there have been corporate Clinton dems. Dems need to go left or they lose.
Manchin is no different from a corrupt GOPuker. The only power he holds is if he switches parties, Beijing Mitch and cabal take back control of the committees in the senate. Man, do we desperately need fresh incorruptible people to win a few senate seats next year. That also goes for the bought off birdbrained Sinema.
This will be spun in so many directions. The Faux Snooz Qnon types will say it is lake affects of Trumpism. Corporate Dems are going to be running for the hills and there will be more blood letting on the BIF-BBB bills. Progressives should tell their colleagues that this is a possible referendum on Biden for not taking a stronger stance on Medicare for All or 2 year community college.
My own take of why I think McAwful lost? Who wants 2 more years of trying the rehabilitating the corporate Clinton wing of the party? Even the R’s would agree no one wants any remnants of the Clintons, and it could be a further bashlash at them.
You are absolutely right, Ms. Benny. Take it from someone who lives and is politically aware and active in a state that has been corrupt for decades. You would not believe all the law breaking down here.
Paul ADK
Trumpkin blew a racist dog whistle in Virginia during an off year election.
And you’re absolutely right about the Clinton wing. People are done with it.
A "centrist" Democratic president is in the White House. A "centrist" Democratic candidate is running for Virginia governor. Two "centrist" Democratic senators have held up the party's agenda for months.
So if Dems lose in VA today, sorry, it ain't on the 'progressives.' No way.
I haven't seen a better example of this problem than Tara McGowan, who literally ruined the Iowa caucuses with an app that couldn't count votes. And yet Silicon Valley billionaires just bestowed her with tens of millions of dollars! https://t.co/TyW4dDqDBFhttps://t.co/eBf1Lb8efw
tbf, The app could count votes, it just was programmed to count them in the wrong direction
thus the continuing billions
polarbear4
If Murphy loses in NJ, I swear it will be because middle class families in the state got offended by the idea that Janet Yellen was going to be reviewing every $600 spent for an upgrade on their patio furniture.
I think he’s going to win. Essex County (with Newark) has barely reported. The most Republican counties have reported most of their votes. The heavily Dem counties have not.
It’s hard to believe coming from corrupt New Jersey, but Murphy is a good guy. Compared to McAuliffe, he’s a saint. I hope he wins, too. I know it’s close right now.
polarbear4
I literally ran against the guy, it's not possible to do more to prevent the problem. https://t.co/5DDlCVWEJE
iran has reneged on its part of the nuke deal in 5,4,3….
“Venezuela’s largest oil producing region regained its output & blending capacity in recent weeks after Iran began regularly supplying condensate for diluting the extra heavy oil. Iranian supplies are lessening the impact of US sanctions on the nation’s output.” pic.twitter.com/vUoJIhMN3Z
wpDiscuz
https://www.nytimes.com/2021/11/02/us/politics/prescription-drug-prices-medicare.html
Hope the tough talk is backed by action this time.
Bernie and the House Progressives are doing their best, but they are still outnumbered by the corrupt Powell Memo aholes.
First comes the tough talk, then comes the triangulation. And then they’ll trow up their hands and say, “See? I tried! But it’s impossible!”
Yes. It’s impossible for corporatists to effectively oppose corporate interests.
You mean rich suburbanites.
This or climate cuts would seem to me to be a more significant reason to gum up the works than the SALT repeal, but I don’t care, as long as we put the brakes on this mess at this point.
https://twitter.com/davidsirota/status/1455642176516288513?s=20
Pathetic that the Times would spin this as a win.
No surprise, the NYT is a political mouthpiece for craporate interests. Look at how they attacked Bernie in both his 2016 and 2020 campaigns.
This isn’t any big deal. The so-called drug stuff is very limited and doesn’t even start for another 2 years. The usual rich yahoos make out like bandits yet again with the SALT concessions. I hope more progressives get elected to House seats. The big corrupt problem is the Senate as we all know. 💩
https://thehill.com/homenews/senate/579497-sanders-hits-back-at-manchins-spending-concerns h
Unfortunately, the vote will lose. But Bernie is quietly sending signals it could be bad for Dems if they don’t hold the progressive line.
yeah i wish he’d just include an expansion that the msm couldn’t pan. but it’s cool.
There’s the lesson from Virginia. Want to run as a corrupt corporate Clinton Democrat? Be prepared to lose. Why vote for a shadow when the alternative is the full blown horror? It’s been that way as long as there have been corporate Clinton dems. Dems need to go left or they lose.
Manchin is no different from a corrupt GOPuker. The only power he holds is if he switches parties, Beijing Mitch and cabal take back control of the committees in the senate. Man, do we desperately need fresh incorruptible people to win a few senate seats next year. That also goes for the bought off birdbrained Sinema.
Because Biden thinks like he does, he has a lot of power right now
T and R, jcb!!🐋☮️😊👍
This will be spun in so many directions. The Faux Snooz Qnon types will say it is lake affects of Trumpism. Corporate Dems are going to be running for the hills and there will be more blood letting on the BIF-BBB bills. Progressives should tell their colleagues that this is a possible referendum on Biden for not taking a stronger stance on Medicare for All or 2 year community college.
My own take of why I think McAwful lost? Who wants 2 more years of trying the rehabilitating the corporate Clinton wing of the party? Even the R’s would agree no one wants any remnants of the Clintons, and it could be a further bashlash at them.
You are absolutely right, Ms. Benny. Take it from someone who lives and is politically aware and active in a state that has been corrupt for decades. You would not believe all the law breaking down here.
Trumpkin blew a racist dog whistle in Virginia during an off year election.
And you’re absolutely right about the Clinton wing. People are done with it.
She better do it cos she’ll win, and we desperately need her in there!
Write in is winning the Buffalo mayor’s race, but I presume it’s splintered?
Probably not nearly enough to allow India to win. I’m sure they are overwhelmingly fir Brown.
nooooooooo
Figures. The faster the DNC loses power, the better.
lol just saw ty jcb!!!
tbf, The app could count votes, it just was programmed to count them in the wrong direction
thus the continuing billions
hoping for murphy
I think he’s going to win. Essex County (with Newark) has barely reported. The most Republican counties have reported most of their votes. The heavily Dem counties have not.
It’s hard to believe coming from corrupt New Jersey, but Murphy is a good guy. Compared to McAuliffe, he’s a saint. I hope he wins, too. I know it’s close right now.
Good ole Turd Way Reagan GOPuker. Screw him. No wonder he lost to a Private Equity dirtbag.
Anderson Cooper is from a rich family. Spare me the platitudes.
rt by nina
iran has reneged on its part of the nuke deal in 5,4,3….
Bully for them.
yes! i was more saying what pur govt might do, ifbb be iran starts helping stop our neolibcon puppets.