President Joe Biden this afternoon is scheduled to sign legislation that for the first time will let Medicare negotiate the prices of certain costly prescription drugs and require drug makers to pay Medicare rebates when their prices outpace inflation.
House Democrats returned temporarily from recess Aug. 12 to approve the Inflation Reduction Act of 2022 in a 220-207 vote along party lines. Senate Democrats pushed their version of the bill through via the budget reconciliation process on Sunday, Aug. 7.
President Joe Biden this afternoon is scheduled to sign legislation that for the first time will let Medicare negotiate the prices of certain costly prescription drugs and require drug makers to pay Medicare rebates when their prices outpace inflation.
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