President Biden this morning called on Congress to let Medicare negotiate drug prices and penalize drug companies that raise their prices faster than inflation.
Biden said lawmakers should establish a firm cap on the amount that Medicare beneficiaries have to pay out-of-pocket for drugs each year. He said the federal government will work with states and tribes to import safe, lower-cost prescription drugs from Canada, and it will accelerate the development and uptake of generic and biosimilar drugs.
President Biden this morning called on Congress to let Medicare negotiate drug prices and penalize drug companies that raise their prices faster than inflation.
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