President Trump today proposed proposed capping out-of-pocket prescription drug prices for seniors covered by Medicare. This position is supported by both the pharmaceutical companies as well as congressional Democrats.
The popular proposal is included within President Trump’s 2020 draft budget proposal. On the other hand, the 2020 budget draft also proposes a $5.5 billion funding cut for the National Institutes of Health. This proposal will probably fail passage through the Congress as the NIH has wide support in both the House and Senate. In addition. NIH has announced plans to start programs for ending HIV transmissions by 2030 as well developing new treatments for childhood cancer. These two initiatives are supported by Congress and no doubt will be funded.
In fact, the NIH enjoys wide Congressional support and in the past five years their budget has increased from 9 billion to 39 billion dollars.
The administration’ is requesting $300 million to fight HIV/AIDS and lower new transmissions of the disease by 90 percent within the next ten years.
President Trump: Support For Seniors Is A Win-Win
President Trump’s support for seniors is a win-win situation and capping drug prices for them will no doubt get wide Congressional support. The aged, for the most part, live on fixed incomes and many take multiple drugs to control chronic illnesses. Capping drug prices for this segment of the population will bring significant financial relief.
The Trump Administration first proposed drug prescription price relief for seniors last year. It is endorsed by the drug companies, HHS Secretary Azar, and Congress. The President also advanced this proposal in his State of The Union speech last month.
The White House draft budget gives the administration to priorities. On the other hand, Congress sees it as a starting off point for more intense negotiation. No doubt, there will be revisions on many of the proposals.