The House of Representatives served up drug pricing legislation Thursday. But the measure, H.R. 3, also known as the Elijah E. Cummings Lower Drug Costs Now Act, is not expected to clear the Senate without major changes.
Most notably, the House measure would let Medicare negotiate drug prices. It also caps annual out-of-pocket expenses at $2,000. Another proviso prohibits higher prices for drugs sold in the United States.
The Congressional Budget Office predicts that the bill would save Medicare $456 billion over a decade. The proposal, however, also would prevent eight new drugs from entering the U.S. market.
The measure “delivers on President Trump’s promise to the American people,” House Speaker Nancy Pelosi (D-CA) said Thursday. She was referring to President Trump’s campaign promise in 2016 to “negotiate” the cost of drugs “like crazy.”
But it’s unlikely that any measure will reach the president’s desk before the next election. That’s because the House bill is not likely to be considered in the Republican-controlled Senate, where lawmakers have introduced a competing bill. Moreover, Senate Majority Leader Mitch McConnell (R-KY) already has ruled out action on the House measure. More recently, Trump has indicated he would veto the same.
