Senate, House Republicans Challenge Biden Admin to Reveal Funding Plan for $3 Billion Drug Rx Price-Fixing Effort

Two GOP House committee chairmen and the top Senate Finance Committee Republican are challenging President Joe Biden to make public the spending plan for an obscure $3 billion prescription drug price-fixing fund established by the Inflation Reduction Act of 2022.
“Unfortunately, the so-called Inflation Reduction Act enacted last year has doubled down on the recent trend of federal expansion and excessive expenditures. The partisan law, for instance, directs a baffling $3 billion to the implementation of misguided price controls that pose serious risks for current and future patients, as well as for our international leadership in medical innovation,” the trio of congressional Republican leaders said in a Feb. 23 letter….}