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Democrats reached a compromise on the $1.75 trillion reconciliation bill. This marks the end of one of the most disputed bills for the Democratic Party. Senate Majority Leader Chuck Schumer explained during a press conference, “I’m pleased to announce that an agreement has been reached to lower prescription drug prices for seniors and families in the Build Back Better legislation.”
Arizona’s moderate Democrat, Sen. Kyrsten Sinema, who was in opposition to the earlier proposal of Medicare negotiations, changed her position and endorsed the bill. In addition, she thanked Scott Peters and Kurt Schrader, two House Democrats, for their contribution in redesigning the bill for compromise.
The bill will benefit seniors by giving the government power to regulate some of the most expensive drugs in the market through Medicare, limiting out-of-pocket costs by $2,000 per year. Giving an ounce of hope for Democrats on Capitol Hill will be able to finalize the bill by the end of the week.
Moderate Democrats have stifled hopes that will happen soon when the holdouts have stated they will only support the Build Back Better bill if they can review the Congressional Budget Office’s analysis. The House and Senate are scheduled for recess by the end of the week; they will return by Nov. 15, 2021. It is still a ways away for Democrats to send the Build Back Better bill to Biden as Sen. Joe Manchin still disagrees with Medicare expansions and climate initiatives.
Written by Skye Leon
Edited by Cathy Milne-Ware
Sources:
CNBC: Democrats reach a breakthrough deal on drug prices, as spending bill nears the finish line; by Thomas Franck and Christina Wilkie
Featured and Top Image Courtesy of AC Moraes’ Flickr Page – Creative Commons License
Inset Image Courtesy of Gage Skidmore’s Flickr Page – Creative Commons License