Health Care News Podcast

Congressional Democrats are pushing through a plan that shift $288 billion away from Medicare drug spending and into Obamacare plans and Green New Deal ventures. Extended Obamacare plans from the pandemic expire around the midterm elections. Premiums will likely skyrocket at a critical time: the midterm elections.

The plan will authorize the federal government, through Medicare Part D and B spending, to hit drug makers with a 95 percent tax on total sales if they fail to lower drug prices to the satisfaction of federal regulators. One economic study found drug research and development fell by 18.5 percent. This tax will also lead to supply shortages of pharmaceuticals. Dems are selling the plan as “drug negotiation,” but Phil Kerpen, president of American Commitment, tells AnneMarie Schieber that it’s a classic mob-style ‘offer you can’t refuse.’

The drug price control measure is being salvaged from the Build Back Better bill that collapsed in Congress a few months ago. Given the upcoming mid-term election, it is likely the Dems will succeed in getting it through. Sen. Joe Manchin is on board, prompted after the Dems changed the name of the bill to the “Inflation Reduction Act of 22.” Kerpen says there is nothing inflation busting about drug price controls. The key to fighting inflation is increasing supply. Kerpen explains how this bill will send a huge chill through the pharmaceutical industry. Companies will not develop drugs if they think the government will dictate the price.

See Kerpin’s latest blog post:
https://www.americancommitment.org/content/democrats-want-raid-medicare-pay-obamacare-–-again

Show Notes

Congressional Democrats are pushing through a plan that shift $288 billion away from Medicare drug spending and into Obamacare plans and Green New Deal ventures. Extended Obamacare plans from the pandemic expire around the midterm elections. Premiums will likely skyrocket at a critical time: the midterm elections.
The plan will authorize the federal government, through Medicare Part D and B spending, to hit drug makers with a 95 percent tax on total sales if they fail to lower drug prices to the satisfaction of federal regulators. One economic study found drug research and development fell by 18.5 percent. This tax will also lead to supply shortages of pharmaceuticals. Dems are selling the plan as “drug negotiation,” but Phil Kerpen, president of American Commitment, tells AnneMarie Schieber that it’s a classic mob-style ‘offer you can’t refuse.’
The drug price control measure is being salvaged from the Build Back Better bill that collapsed in Congress a few months ago. Given the upcoming mid-term election, it is likely the Dems will succeed in getting it through. Sen. Joe Manchin is on board, prompted after the Dems changed the name of the bill to the “Inflation Reduction Act of 22.” Kerpen says there is nothing inflation busting about drug price controls. The key to fighting inflation is increasing supply. Kerpen explains how this bill will send a huge chill through the pharmaceutical industry. Companies will not develop drugs if they think the government will dictate the price.
See Kerpin’s latest blog post:
 https://www.americancommitment.org/content/democrats-want-raid-medicare-pay-obamacare-–-again

Creators & Guests

Host
AnneMarie Schieber
AnneMarie Schieber brings decades of experience as an investigative news reporter to the forefront as host of Health Care News from The Heartland Institute. Along with hosting the podcast, Schieber is the managing editor of Health Care News, Heartland's monthly newspaper for health care reform. Before her work in the liberty movement, Schieber spent several decades at television stations in Michigan, Minnesota, New York and Pennsylvania. The Associated Press awarded her the top honor of "Best Individual Reporting" for being the first reporter to call attention to government efforts to subsidize spending by increasing automobile fines, typically on low-income motorists.

What is Health Care News Podcast?

The Heartland Institute podcast featuring libertarian and conservative health care scholars who are working to put power back into the hands of patients and doctors, and away from government bureaucrats.