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Senate panel advances bipartisan bill to lower drug prices amid GOP blowback

Senate panel advances bipartisan bill to lower drug prices amid GOP blowback
© Greg Nash

The Senate Finance Committee on Thursday voted to advance a bipartisan deal to lower drug prices to the full Senate, though nine Republicans voted against the measure. 

All Democrats on the panel supported the deal between Sens. Chuck GrassleyCharles (Chuck) Ernest GrassleyBarrett confirmation stokes Democrats' fears over ObamaCare On The Money: Power players play chess match on COVID-19 aid | Pelosi bullish, Trump tempers optimism | Analysis: Nearly 1M have run out of jobless benefits Grassley: Voters should be skeptical of Biden's pledge to not raise middle class taxes MORE (R-Iowa) and Ron WydenRonald (Ron) Lee WydenPlaintiff and defendant from Obergefell v. Hodges unite to oppose Barrett's confirmation Senate Democrats call for ramped up Capitol coronavirus testing House Democrats slam FCC chairman over 'blatant attempt to help' Trump MORE (D-Ore.), leading to a final vote of 19-9. 

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The large number of GOP defections doesn't bode well for the likelihood of Senate Majority Leader Mitch McConnellAddison (Mitch) Mitchell McConnellBitter fight over Barrett fuels calls to nix filibuster, expand court Trump blasts Obama speech for Biden as 'fake' after Obama hits Trump's tax payments White House hoping for COVID-19 relief deal 'within weeks': spokeswoman MORE (R-Ky.) bringing the bill up for a vote in the full Senate, at least not without substantial changes.

The bill would impose a limit on drug price increases in Medicare’s prescription drug program, called Part D, by forcing drug companies to pay money back if their prices rise faster than inflation. 

Many Republican senators opposed this provision as a price control that violates GOP free-market orthodoxy, and therefore opposed the larger package. 

“I’ve heard from Iowans who have left prescriptions at the pharmacy counter or who skipped doses of their medicine to save money,” Grassley said, adding, “This is the moment for the Senate to act.”

Sen. Pat ToomeyPatrick (Pat) Joseph ToomeyAppeals court rules NSA's bulk phone data collection illegal Dunford withdraws from consideration to chair coronavirus oversight panel GOP senators push for quick, partial reopening of economy MORE (R-Pa.) led the effort to strike from the bill the limit on price increases, an amendment that failed on a tie vote of 14-14, with just two Republicans, Grassley and Sen. Bill CassidyWilliam (Bill) Morgan CassidyTwo Loeffler staffers test positive for COVID-19 Michigan Republican isolating after positive coronavirus test GOP Rep. Mike Bost tests positive for COVID-19 MORE (R-La.), voting in favor of keeping the provision.  

“We should not use this sledgehammer of a universal Part D price control,” Toomey said. 

Sen. John CornynJohn CornynBiden pushes into Trump territory Cruz: Hunter Biden attacks don't move 'a single voter' Bloomberg spending millions on Biden push in Texas, Ohio MORE (R-Texas) voted for the overall package but also objected to the limit on Medicare price increases. 

“This bill is not anywhere near action on the floor,” Cornyn said. “It’s more important that we get it right than that we get it done fast.”

The advancement of the measure was a rare loss for the powerful pharmaceutical industry, which denounced the bill. But there is a long road ahead with plenty of opportunities for the industry to stop the bill on its way to the full Senate. 

Democrats all supported the package but said more needed to be done. They pushed for an amendment that would allow Medicare to negotiate drug prices, which has been a Democratic priority.

All Republicans voted to defeat that amendment, while all Democrats except Sen. Bob MenendezRobert (Bob) MenendezTrump appointee sparks bipartisan furor for politicizing media agency Senate Democrats hold talkathon to protest Barrett's Supreme Court nomination Watchdog confirms State Dept. canceled award for journalist who criticized Trump MORE (N.J.), voted in favor.

House Democrats are working on a rival drug pricing bill that would allow Medicare to negotiate drug prices, removing a clause in current law that prevents Medicare from directly interfering in drug prices. 

Asked about the GOP objections to his bill, Grassley told reporters after the vote Thursday that Republicans should realize the Grassley-Wyden bill is more moderate than a potential deal between President TrumpDonald John TrumpGiuliani goes off on Fox Business host after she compares him to Christopher Steele Trump looks to shore up support in Nebraska NYT: Trump had 7 million in debt mostly tied to Chicago project forgiven MORE and Speaker Nancy PelosiNancy PelosiOn The Money: Trump says stimulus deal will happen after election | Holiday spending estimates lowest in four years | Domestic workers saw jobs, hours plummet due to COVID Hoyer lays out ambitious Democratic agenda for 2021, with health care at top CNN won't run pro-Trump ad warning Biden will raise taxes on middle class MORE (D-Calif.) would be. 

“You've got the president campaigning on doing away with the noninterference clause, who knows what he's going to do at the last minute,” Grassley told reporters. “If he would join forces with Pelosi, look at what that would do to everything that we Republicans stand for in the United States Senate.”

“It seems to me that the Grassley-Wyden approach is a very moderate approach to what could come out,” he added. “There's got to be a realization on the part of Republicans about that and there ought to be a realization on the part of pharmaceutical companies where they would be if we had the noninterference clause go away.”