What happened to all the punitive billionaire tax proposals that were supposed to fund Build Back Better? They’re gone, just like the drug price reduction proposal.
As much as you'd like to lay the lack of Medicare price negotiation at Biden's feet, it's folks in Congress that are the roadblock. And despite your link above (from Oct 28), the provision doesn't appear to be completely dead yet[1, Oct. 31]:
"Democrats are zeroing in on a deal to lower prescription drug prices that the party hopes it could add to President Joe Biden’s $1.75 trillion social spending bill as soon as Monday, according to sources familiar with the effort."
"The conversations involve a group of Senate Democrats, including Sen. Kyrsten Sinema of Arizona, House leadership and rank-and-file, as well as the White House. Prescription drug reform was left out of last week’s draft proposal due to ongoing disagreements between moderates like Sinema and House Democrats like Energy and Commerce Chair Frank Pallone (D-N.J.), who is hoping for a more expansive effort to lower drug prices."
"Yet after that omission, Democrats have redoubled their efforts. Leaving out prescription drug reform from Biden’s climate and social spending bill would be a massive loss for Democrats, who have campaigned on lowering drug prices for several years."
I'd keep your powder dry on this one at the moment. That said:
"But if Democrats are able to reinsert a drug plan, lawmakers and aides say it will hew closer to the far more narrow and industry-friendly version put forward by House and Senate centrists and endorsed by the White House than the aggressive plan that already passed the House twice. Though the drug industry's goal is preventing any government price negotiation whatsoever, limiting the bargaining to a narrow subset of drugs and leaning more heavily on measures like out-of-pocket caps that don’t impact the companies’ bottom line would be a victory in itself."
"Several progressives and frontliners said they would rather leave drug pricing out of the package altogether than pass what they see as a weak version that will sap motivation for future action. Rep. Susan Wild (D-Pa.) said: 'My understanding is that if it goes back in, it’ll be the Peters version or even worse. I’m pretty upset about it. It’s just horrible.'"
As they say in the news business, this story is still developing.
It’s always been a temptation by many well established larger corporations and highly affluent people to use the government to enact policies, that in effect shield them from competition. On this issue, I find common agreement with many populists(including as you mentioned, left wing populist AOC), both left and right. They correctly ID the problem. Where I tend to part company with them, is on some of their proposed remedies.
Biden and the Dems should’ve focused on getting the infrastructure bill passed and taking the W. Instead they shot themselves in the foot with these profligate, wacky spending and taxing proposals, and used it as legislative blackmail as a condition for passing the infrastructure bill. I think that a vastly reduced form of the BBB legislation could possibly pass with the blessing of Manchin and Sinema.
I’m curious to see if the results Virginia’s gubernatorial election tomorrow will have any impact on the Dem’s zeal to pass BBB in some form or shape. The race is pretty much a draw between McAuliffe and Youngkin. I think a combination of intransigence on the part of leftist congressional Dems on BBB and the Afghanistan debacle have dragged down Biden’s popularity. Which in turn changed blue Virginia from being a likely D win to a complete tossup.
Just a correction here on the last sentence above. I meant “which in turn has contributed to blue Virginia......”. There are other reasons for the race in VA being a tossup, but they the national mood is a contributing factor.
As much as you'd like to lay the lack of Medicare price negotiation at Biden's feet, it's folks in Congress that are the roadblock. And despite your link above (from Oct 28), the provision doesn't appear to be completely dead yet[1, Oct. 31]:
"Democrats are zeroing in on a deal to lower prescription drug prices that the party hopes it could add to President Joe Biden’s $1.75 trillion social spending bill as soon as Monday, according to sources familiar with the effort."
"The conversations involve a group of Senate Democrats, including Sen. Kyrsten Sinema of Arizona, House leadership and rank-and-file, as well as the White House. Prescription drug reform was left out of last week’s draft proposal due to ongoing disagreements between moderates like Sinema and House Democrats like Energy and Commerce Chair Frank Pallone (D-N.J.), who is hoping for a more expansive effort to lower drug prices."
"Yet after that omission, Democrats have redoubled their efforts. Leaving out prescription drug reform from Biden’s climate and social spending bill would be a massive loss for Democrats, who have campaigned on lowering drug prices for several years."
I'd keep your powder dry on this one at the moment. That said:
"But if Democrats are able to reinsert a drug plan, lawmakers and aides say it will hew closer to the far more narrow and industry-friendly version put forward by House and Senate centrists and endorsed by the White House than the aggressive plan that already passed the House twice. Though the drug industry's goal is preventing any government price negotiation whatsoever, limiting the bargaining to a narrow subset of drugs and leaning more heavily on measures like out-of-pocket caps that don’t impact the companies’ bottom line would be a victory in itself."
"Several progressives and frontliners said they would rather leave drug pricing out of the package altogether than pass what they see as a weak version that will sap motivation for future action. Rep. Susan Wild (D-Pa.) said: 'My understanding is that if it goes back in, it’ll be the Peters version or even worse. I’m pretty upset about it. It’s just horrible.'"
As they say in the news business, this story is still developing.
[1] https://www.politico.com/news/2021/10/31/democrats-race-prescription-drug-deal-517974
It’s always been a temptation by many well established larger corporations and highly affluent people to use the government to enact policies, that in effect shield them from competition. On this issue, I find common agreement with many populists(including as you mentioned, left wing populist AOC), both left and right. They correctly ID the problem. Where I tend to part company with them, is on some of their proposed remedies.
Biden and the Dems should’ve focused on getting the infrastructure bill passed and taking the W. Instead they shot themselves in the foot with these profligate, wacky spending and taxing proposals, and used it as legislative blackmail as a condition for passing the infrastructure bill. I think that a vastly reduced form of the BBB legislation could possibly pass with the blessing of Manchin and Sinema.
I’m curious to see if the results Virginia’s gubernatorial election tomorrow will have any impact on the Dem’s zeal to pass BBB in some form or shape. The race is pretty much a draw between McAuliffe and Youngkin. I think a combination of intransigence on the part of leftist congressional Dems on BBB and the Afghanistan debacle have dragged down Biden’s popularity. Which in turn changed blue Virginia from being a likely D win to a complete tossup.
Just a correction here on the last sentence above. I meant “which in turn has contributed to blue Virginia......”. There are other reasons for the race in VA being a tossup, but they the national mood is a contributing factor.