Opinion by Paul Waldman and Greg Sargent: Allowing Medicare to negotiate drug prices is absurdly popular.
would allow Medicare to begin negotiating drug prices and would cap the amount any senior pays for medicine at $2,000 a year. It would offer extra help to low-income seniors and forbid drug companies from raising prices on existing drugs beyond the rate of inflation.the bill has real limitations. It wouldn’t go into effect until 2026, and at first it would allow negotiation on only 10 of the most expensive drugs; the list would expand to 20 drugs in 2029. Sen.
“This is the most straightforwardly popular thing we are doing, and we are being unanimously opposed by Republicans,” Sen. Brian Schatz told us. “The attack ads write themselves.” But, said Ayres, Republicans can instead say: “Private sector competition has been successful at lowering drug prices without the deleterious effects of government price controls. Do you really think it’s better if a bunch of bureaucrats step in?”
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