'By empowering Medicare to directly negotiate prices for prescription drugs Congress can end the days of seniors missing lifesaving medications because they cannot afford them.' — SenSchumer
released by the Senate Budget Committee, the legislation now under consideration"would result in a net decrease in the unified deficit totaling $287.6 billion over the 2022-2031 period. That decrease in the deficit would result from a decrease in direct spending of $249.2 billion and an increase in revenues of $38.4 billion.
"This CBO score shows allowing Medicare prescription drug negotiation will yield billions in smart savings for Americans annually and will deliver much needed relief for millions of seniors," said Schumer in a statement. The Democrats' proposal would allow Medicare to negotiate discounts for some of the costliest drugs on the market and would impose punishment on pharmaceutical companies that increase prices faster than inflation. The legislation would also cap annual out-of-pocket costs at $2,000 for Medicare beneficiaries.
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