- Senate Majority Leader Chuck Schumer announced that Senate leadership reached a deal with Senator Joe Manchin to lower prescription drug costs and extend key Affordable Care Act (ACA) subsides. The package gives Medicare the power to negotiate for lower prices on up to 10 drugs in 2026 and up to 20 drugs starting in 2029. It also includes a $2,000 cap on out-of-pocket drug costs and a two-year extension of a boost to ACA subsidies that has helped fuel record-breaking enrollment of more than 14 million people. Schumer said that the Senate Parliamentarian will review the legislation Thursday to ensure it is within reconciliation guidelines. (Article here)
July 20, 2022
D.C. News