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7/23, 5:03 PM (Source: TeleTrader)
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Senators announce bipartisan bill to lower drug costs

United States Finance Committee Chairman Chuck Grassley and ranking member Ron Wyden​ announced a bipartisan deal to lower drug prices on Tuesday.

The legislation would impose a new limit on price increases in Medicare's prescription drug program, while also capping Medicare beneficiaries' out of pocket costs. The Congressional Budget Office said the measure would save taxpayers $85 billion in Medicare over 10 years, and beneficiaries will save $27 billion in out of pocket costs.

The committee is set to vote on the bill on Thursday.

Breaking the News / MD