House Democrats are pushing forward an aggressive bill to make prescription drugs more affordable—but free-market watchdogs warn that it could cause drugs to double in price.
H.R. 3, the “Elijah E. Cummings Lower Drug Costs Now Act,” would allow Medicare to negotiate prices with drug companies. However, if the bill is passed, drug companies that refuse to match prices to those in other countries’ government-run health care systems would be assessed a tax that can go as high as 95 percent of the gross sales of the drug.
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