Welcome back. This week, the Senate Finance Committee is set to meet privately to discuss the drug pricing legislation being developed by the committee. All signs point to a deal being close with a few outstanding provisions, but it is unclear if the package will be finalized before they hold on a hearing – which could happen during the work period this month, prior to Congress adjourning for the August recess.
Various reporting suggests some Republicans are concerned about Ranking Member Ron Wyden’s proposal requiring drug companies to pay back rebates when prices rise faster than inflation. The Finance package will focus primarily on Medicare Part B and D as well as Medicaid, making the pathway to passage challenging as aspects of the deal will have to be considered by the House of Representatives. The meeting this week will be crucial to gauging whether Congress can get something passed before the August recess. With four weeks left, every day counts.
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