Republicans balk at Senate Finance drug pricing bill
The Senate Finance Committee Thursday voted 19 to 9 to send the Prescription Drug Pricing Reduction Act for consideration by the full Senate, but the bill is very much a work in progress.
Given Republican opposition, it will either be substantially modified prior to a vote by the full Senate, or parts of the bill that produce government savings may be pulled out and inserted in budget bills.
The bill would create an out-of-pocket spending cap for Part D beneficiaries, eliminate the Part D coverage gap, shift drug company liability to the catastrophic phase and limit Part D price increases to a measure of inflation (see “Senate Finance Committee Bill Shocks”).
The markup demonstrated that GOP support is far shakier than Finance Chairman Chuck Grassley (R-Iowa)