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President Joe Biden's signature Inflation Reduction Act (IRA) includes a provision to penalize drugmakers who work with Medicare, a government program for people aged 65 and older or who are disabled.
The Inflation Reduction Act has provisions to lower drug costs, but it's possible that pharma companies could get around them, and keep drug prices high.
The funding comes from the Infrastructure Investment and Jobs Act and the Inflation Reduction Act. [266] [267] According to a Biden administration statement, in the first year of implementation, around $2 billion was allocated to protect and restore land and marine ecosystems, including National Parks and the National Wildlife Refuge System. [268]
The anniversary came just after the Consumer Price Index released a report that showed the U.S. annual rate of inflation at its lowest point since 2021.
Medicare bargains with drugmakers. Under legislation passed in 2022 called the Inflation Reduction Act, Medicare was allowed for the first time to negotiate prices with drug companies on a limited ...
The Inflation Reduction Act (IRA), which now sitting on President Joe Biden’s desk, will soon mark a milestone in the battle to lower drug pricing in the U.S., though it is still nowhere near ...
Medicare is one of the biggest winners of the Inflation Reduction Act, ... Inflation Reduction Act having an immediate impact on drug prices. Updated August 23, 2022 at 9:18 AM.
The Inflation Reduction Act, now signed into law, aims to cut drug costs by capping Medicare out-of-pocket costs and allowing Medicare to negotiate drug prices.