WASHINGTON — Senate Democrats are close to a deal to lower prescription drug costs as part of a larger party-line package to advance a number of President Joe Biden's economic priorities, three sources familiar with the negotiations told NBC News.
Democrats plan to submit a "finalized agreement" on allowing Medicare to negotiate prices with pharmaceutical companies to a key Senate official "in the coming days" to see if it complies with the chamber's strict budget rules, one of the sources said.
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The source, who requested anonymity to discuss sensitive negotiations between Senate Majority Leader Chuck Schumer, D-N.Y., and Sen. Joe Manchin, D-W.Va, described the expected move as "major progress" that shows Democratic leadership wants to "move forward with a bill on the floor as early as next month."
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There's no final deal on the broader bill, however, as the other major parts of the "reconciliation" package — energy and climate policy provisions and tax changes to raise revenue — are still being negotiated between Schumer and Manchin. Unless an agreement can be reached quickly, it would be difficult to pass the bill before a scheduled month-long August recess.
The West Virginia Democrat’s office said Wednesday there is consensus and a path forward on drug pricing.
Read the full story at NBCNews.com.
