Biden Backed Lower Medicine Prices Bill for Elder People Hits Hurdle in Congress

US President Joe Biden has supported a proposal put forth to US Congress seeking permission to allow the US government to negotiate lower medicine prices for age-old people. But, the bill hit a hurdle in the US Congress as the bill failed to advance in a House of Representatives committee vote. Though many Democrats in Congress are in support of the bill, few members from the House energy and commerce committee voted in opposition to the bill.

However, the failure of Biden backed proposal is a victory for many pharmaceutical firms. The pharma companies have opposed allowing Medicare insurers to negotiate lower prices for medicine. Medicare is a healthcare program for elderly Americans formed by the US government.

This could also affect Biden’s new proposals for spending $3.5tn in social plans and the climate change bill. According to reports bypassing the prescription drug price reduction plan may enable the government to secure billions of dollars in its savings.However, before the bill passes, there is a number of rounds it may go through with the Senate Democrats and White House.

The pharma firms aim to rebuild their public reputations making life-saving vaccines accessible to the patients. Reports say such moves are creating headaches to the Biden Administration and all together with the White House. But, the move on blocking the bill by the senate democrats reflects the power and influence of the senates on shaping legislation.