How The Inflation Reduction Act Could Lower Your Drug Costs

Democrats are on the verge of a sweeping health care achievement that will address one of the country’s most intractable problems: high prescription drug costs. The Senate on Sunday passed a broad climate, tax, and health care package that delivers key pieces of President Joe Biden’s stalled economic agenda. While the legislation is smaller than Democrats’ original hopes last year, the health care provisions alone are what Biden might call a “big f-cking deal.” The bill will allow Medicare for the first time to negotiate with drug makers for lower prescription drug prices, something that governments in many other wealthy countries do and a long-held priority for Democrats.

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