More than 40 groups have signed onto a letter asking Congress to end the prescription drug price control scheme included in the Inflation Reduction Act.
EXCLUSIVE — A coalition of more than 40 groups is calling on Congress to repeal the Drug Price Negotiation Program included in the Inflation Reduction Act that passed last year, arguing that the price control scheme run by the Biden administration will ultimately lead to shortages of medicines and higher costs.
The pharmaceutical company then must "enter into agreement" for the price. If they do not, the government will assess a daily excise tax on every drug sold over the "maximum fair price." CONSUMER GROUP EXPOSES COSTS OF BIDEN ADMIN'S WAR ON HOME APPLIANCES The Biden administration named the first 10 drugs subject to government price-setting under CMS two months ago. Those price caps will not go into effect until 2026.
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