Latest news with #drugcosts
Yahoo
3 days ago
- Health
- Yahoo
Lawmakers send flurry of bills to governor's desk in final days of spring session
SPRINGFIELD — Along with a budget that passed shortly before Saturday's deadline, Illinois legislators passed a flurry of bills in the final days of the General Assembly's spring session on issues ranging from police hiring practices to traffic safety. Here are some of the bills heading to Gov. JB Pritzker's desk after passing out of the legislature at the end of the four-month session. A measure designed to rein in the practices of pharmacy benefits managers, or PBMs — companies that act as intermediaries between drugmakers, insurance corporations and pharmacies — was approved with broad bipartisan support and is backed by Pritzker. The largest PBMs are part of corporate entities that include pharmacy chain CVS and UnitedHealth Group. Critics blame them for driving up prescription drug costs for patients while pushing independent pharmacies out of business. The measure awaiting Pritzker's signature would bar PBMs from charging insurance companies more for drugs than they are paid by pharmacies and pocketing the difference; prohibit them from giving better reimbursement rates to pharmacies that are owned by the same company; and require them to pass along rebates negotiated with drugmakers to health plans and patients. PBMs also would be required to make annual reports on pricing and other practices to the Illinois Department of Insurance, and would be charged an annual $15-per-patient fee, with the first $25 million collected going to a grant fund to support local pharmacies. 'For far too long, pharmacy benefit managers' business practices have operated with little regulation, transparency, and accountability. Illinois is putting an end to that,' Pritzker said in a statement Saturday after the House sent the measure to his desk. A trade group representing the industry argued that PBMs are 'the only check against drug companies' unlimited pricing power' and said the proposed changes would lead to higher prices at the drugstore counter. But PBMs have drawn scorn from across the political spectrum. President Donald Trump, Pritzker's frequent sparring partner, in April issued an executive order that aims to lower drug prices through steps that would include increasing 'transparency into the direct and indirect compensation received by pharmacy benefit managers.' And ruby-red Arkansas recently became the first state to bar PBMs from owning pharmacies. Illinois is set to study safety measures on DuSable Lake Shore Drive, including whether cameras powered by artificial intelligence could reduce crashes under a measure sent to Pritzker. Democratic Sen. Sara Feigenholtz, the bill's sponsor, has pointed to the use of cameras that could 'track vehicles' as opposed to focusing only on a fixed point, and detect violations beyond just speeding. State law now largely allows automated speed cameras around parks and schools but not on DuSable Lake Shore Drive. There were disproportionately high rates of collisions and traffic fatalities on the drive compared with the rest of Chicago from 2019 to 2024, according to data provided from transit advocates to Feigenholtz's office. The American Civil Liberties Union of Illinois has said guardrails are needed to protect people from 'omnipresent AI surveillance,' though neither the ACLU or any other organizations officially opposed the bill. A bill introduced in response to the 2024 fatal shooting of Sonya Massey in the Springfield area by a downstate sheriff's deputy now awaits Pritzker's signature. Sean Grayson was fired from his job as a Sangamon County sheriff's deputy after the killing and charged with murder. After Massey's death, it was revealed that Grayson previously worked for five law enforcement agencies and had been the subject of citizen complaints and criticism from superiors who questioned his competence. Grayson also had two DUIs on his record before he went into law enforcement. The legislation would bar law enforcement agencies from making a final offer for employment without getting a signed release from the applicant directing 'any and all entities that previously employed the individual to produce or make available for inspection all employment records, including background investigation materials collected in connection with making a final offer of employment.' A statewide office to support under-resourced public defenders throughout Illinois would be created under another criminal justice measure sent to the governor. The bill, dubbed by advocates as the Funded Advocacy & Independent Representation bill, or FAIR Act, could assist public defenders in rural areas, where the availability of effective public defense for indigent criminal defendants can be sparse. Advocates, including the Cook County public defender's office, argued the bill would create more of a level playing field for public defense when compared with prosecutors, who can get statewide help on cases through the Illinois attorney general's office. Some of the assistance provided by the statewide public defender office could be the availability of more public defense lawyers and defense experts who may specialize in various evidentiary or forensic practices. The Cook County public defender's office also pushed for legislation to expand the jurisdiction of its attorneys representing noncitizen Cook County residents in immigration cases being heard outside the county. The bill passed the Senate on Friday 37-19 after clearing the House in early April. 'As immigrant communities are grappling with shifting federal policies, we must adapt to ensure there is no lapse in access to counsel,' Sen. Omar Aquino, a Chicago Democrat who sponsored the bill, said. 'Families deserve to know that this resource is available and reliable despite changes happening at the federal level.' According to Tovia Siegel, a proponent of the bill and the director of organizing and leadership at The Resurrection Project, the Cook County's public defender's office can currently represent immigrants only in Chicago's immigration court, but individuals in that court are being 'sent all over the country.' 'We're even seeing people sent out of the country, and so it's essential that the Cook County public defender's office has the ability to continue representing their clients,' Siegel said. Another measure the Democratic-controlled General Assembly passed with a specific eye on the Trump administration centered on abortion rights. The bill is intended provide more protections under Illinois' 2023 shield law, which prevents health care workers from facing disciplinary action by the state if, for instance, they provide abortion care to someone from a state that has more stringent abortion restrictions. The legislation also would ensure prescribing abortion medications such as mifepristone would remain legal in Illinois even if the U.S. Food and Drug Administration revokes approval, as long as the World Health Organization recommends the drug's use. Democrats have warned that access to these drugs could be jeopardized following declarations toward that end by Project 2025, the Heritage Foundation policy group thought to have influence on the Trump White House. Also heading to Pritzker's desk is a bill that aims to strengthen restrictions on how firearms are stored or kept in place where a minor, or someone who isn't allowed to own a gun, has access to them. Gun owners could be fined up to $1,000 if a prohibited person gets hold of an improperly stored firearm. The fine would increase to $10,000 if the person kills someone with the firearm. Gun owners could also face civil penalties if they fail more than twice to report the loss or theft of their gun within 48 hours upon acknowledging the crime. 'I'm pleased that we're moving forward with this legislation where I anticipate the governor will agree with its importance,' said state Rep. Maura Hirschauer, a Democrat from Batavia. 'Gun owners and nongun owners alike can agree safe gun storage can reduce unintentional injuries, suicides and intentional harm like school shootings by stopping unauthorized access, and it's time for us to take action,' she said. Republican state lawmakers took issue with several provisions in the measure and warned the legislation could be challenged in court. 'I wish we had more opportunity to talk this through,' Rep. C.D. Davidsmeyer, a Republican from Jacksonville, said. 'You're trying to do something that makes people safer, but you're actually infringing on our rights.'
Yahoo
17-05-2025
- Business
- Yahoo
Republicans' populism can sound very progressive
A version of this story appeared in CNN's What Matters newsletter. To get it in your inbox, sign up for free here. Pay attention to an important shift in tone in Washington as Republicans evolve with President Donald Trump's brand of populism. Some of the president's goals dovetail with things Democrats have been talking about for a long time. ► Give babies seed money. In Republicans' tax legislation, there's a proposal for what they're calling 'MAGA' savings accounts — $1,000 given by the government to each American newborn in a tax-deferred account. The idea of giving American babies money to be grown during their childhoods and then used for college or a home purchase has been percolating for years, with bipartisan support. New Jersey Democratic Sen. Cory Booker proposed 'baby bonds' when he was running for president as a way to address inequality. GOP Sen. Todd Young of Indiana has also pushed the idea, and some states are experimenting with it. ► Tax the rich. Trump said he'd be open to raising taxes on the wealthy as lawmakers on Capitol Hill search for ways to offset his tax cuts. He later backtracked, but the idea of a tax-hiking GOP president gave whiplash to old-school Republicans familiar with the not-too-distant era of the no-new-tax pledge. ► Drive down drug costs. Trump promised to cap prescription drug prices in an executive order. The plan will face obstacles in court, but it is the cousin of Democrats' success under President Joe Biden passing a law to drive down drug prices by allowing Medicare, for the first time, to negotiate the price it pays for some medications. ► Give parents more money. Republicans in the House envision bumping the child tax credit by $500 to $2,500. It's less generous than moves by Democrats when they were in charge that temporarily gave child tax credits even to parents who don't pay income taxes. When those ended, the child poverty rate rose. But the GOP proposal does acknowledge the expense of raising children. However, the GOP plan would shrink the number of children eligible by requiring parents have a Social Security number. Immigrants, even those who pay taxes and have children who are citizens, would be excluded. The Trump administration has also toyed with the idea of 'baby bonuses' — $5,000 checks to entice parents to procreate. That's less than the universal child care supports envisioned by some Democrats, but it's not a trivial sum. ► Invest in manufacturing. Trump's tariffs — which he's said will either lead to better trade deals or raise revenue for the government — are also taxes, but they are meant to force a new era of American manufacturing. Building a manufacturing base was also a goal of the Biden administration, but the White House and Congress back then agreed to spend money to seed semiconductor and renewable energy industries rather than hike taxes on imports. ► Change how the Pentagon buys things. In April, Trump signed an executive order seeking to reform Pentagon acquisition — or how it buys things. The Pentagon spends a lot of money, and the system is notoriously bloated. Trump's order is not exactly meant to cut defense spending — his budget envisions $1 trillion going to the Pentagon in one year — but it is an acknowledgment that American defense spending needs reform, something many progressives would agree with. None of these points of agreement should lead anyone to think we are on the cusp of a new era of bipartisanship. Plainly, we aren't. Republicans today, like Democrats during the Biden administration, are pursuing Trump's goals in a bill designed to sidestep the filibuster in the Senate. Current proposals would slash food security benefits along with Medicaid spending and largely end efforts to address climate change, all while adding trillions to the national debt in the name of tax cuts. The only option for lawmakers is likely to be an up-or-down vote on such a large measure, which means Republicans are having trouble finding enough support in their own party, let alone any help from Democrats. But clearly there are bridges to be built across the American political divide. During his first term, Trump followed up his tax cuts bill with a bipartisan achievement, the First Step Act, which cut extremely long prison sentences, among other things. It's hard to imagine Trump revisiting that issue given his rhetoric about imposing the death penalty on drug dealers, his endorsement of prisons like CECOT in El Salvador and the fact that he has considered suspending habeas corpus in the US. What Trump ultimately wants is to get wins, however, and passing laws creates more lasting change than his executive orders. I asked the Bipartisan Policy Center, a group that tries to bring Democrats and Republicans together, about which issues might have room for accord. 'It rarely gets much attention, but bipartisan cooperation is happening on Capitol Hill because it is the only way to actually get anything done that lasts longer than the next change in majority,' said Margaret Spellings, BPC's CEO, who was education secretary in the George W. Bush administration. BPC pointed to bipartisan legislation on 'permitting reform,' which is Washington speak for making it easier to start building energy and infrastructure products — not the sexiest issue, but one that could make the government work more efficiently. There are also ongoing efforts for legislation to get more Americans involved in retirement savings programs and to reauthorize expiring substance abuse treatment programs. Meanwhile, a shift in tone can offer a brief rest from the normal sniping in Washington. Pushing Trump's proposal to match US drug prices with Europe's, Health and Human Services Secretary Robert F. Kennedy Jr. argued that issue was the 'fulcrum' of Sen. Bernie Sanders' presidential campaign. The next day at a hearing on Capitol Hill, Sanders asked Kennedy whether he'd work on legislation — which has more power than an executive order — to further drive down drug costs. 'Absolutely,' Kennedy said, although Republicans are currently trying to craft a 'big, beautiful' tax cut bill for Trump that does not include any effort to expand drug cost measures. Appearing on CNN's 'Inside Politics' Monday, Republican Sen. Josh Hawley of Missouri panned the House version of the tax bill because it would cut Medicaid benefits. Medicaid is the federal program that helps low-income Americans obtain health insurance. 'I continue to stand by my line in the sand, which is no Medicaid benefit cuts,' he said. 'We're the party of the working class,' Hawley said, referencing how the parties have realigned in recent years. 'We need to act like it.' He also said he's fine with raising taxes on those making more than $1 million per year. Being okay with something is different than fully supporting it, however. After suggesting he could support a tax on the wealthy, Trump said he wouldn't because he didn't want Democrats to use the issue against him. 'The problem with even a 'TINY' tax increase for the RICH, which I and all others would graciously accept in order to help the lower and middle income workers, is that the Radical Left Democrat Lunatics would go around screaming, 'Read my lips,' the fabled Quote by George Bush the Elder that is said to have cost him the Election. NO, Ross Perot cost him the Election!' Trump wrote on social media. Trump could stop worrying so much about what Democrats say since he won't face any more elections. The Constitution forbids him from seeking a third term.
Daily Mail
12-05-2025
- Business
- Daily Mail
Nat Barr confronts Albanese government with important Donald Trump question
Treasurer Jim Chalmers has insisted Donald Trump 's move to slash drug costs in the US won't drive up medicine prices for Aussies. Trump claims his latest executive order, signed on Tuesday, will cut drug costs for Americans by up to 80 per cent as the US Government buys prescription drugs straight from manufacturers at the 'most-favoured nation price'. The move to buy medicines at the lowest price they're being bought for in other countries has sparked concern that pharmaceutical companies will try to recoup their costs in other countries, including Australia. 'How will you ensure the price of medicines don't skyrocket here in response to the cuts in the US?' Sunrise host Natalie Barr asked Mr Chalmers on Tuesday morning. 'Obviously we've seen the announcements out of the US and we'll work through them in the usual way,' the treasurer said. 'But we've made it really clear and I'll make it clear again today, that our Pharmaceutical Benefits Scheme (PBS) is not up for negotiation. 'We are making medicines cheaper in this country, not more expensive. The PBS is a really proud creation of Labour in government, it's something that we cherish.' Mr Chalmers added that the Labour government would do 'everything to protect' the PBS. Asked if the Australian taxpayer would have to may more to 'prop up' the PBS, Mr Chalmers said the implications of Trump's announcement were 'still unclear'. 'Some of those consequences for other countries are being speculated on, but are not necessarily locked in. 'We've made it very clear publicly and privately that we won't be changing the PBS at the behest of other countries, and that remains our position.' The PBS was a central pillar of Anthony Albanese's election campaign, as he vowed to slash the maximum cost of prescription medicine under the scheme to $25. Meanwhile, 'big pharma' in the US called on Trump to impose further tariffs on Australia because it subsidises medicines. The drug companies lodged a formal complaint with Trump's trade chief in March, calling for an end to the 'damaging pricing policies' in Australia. It's possible the US will try to use punitive tariffs to force Australia to abandon its medicine subsidies, and allow those companies exporting medicines to Australia to charge much more. But Labor has vowed to keep the PBS off the table in any trade talks with the Trump administration.
Bloomberg
12-05-2025
- Business
- Bloomberg
Stock Movers: Pfizer, Best Buy, Nike
On this episode of Stock Movers: -Pfizer shares rise after President Donald Trump said he plans to order cuts to prescription drug costs to bring them in line with other countries. White House officials speaking this morning did say weight loss drugs and medicare will be an area of focus for action. -Best Buy shares rise after being a key beneficiary of weekend US-China talks Bloomberg Intelligence analysts estimates that retailers entered the year holding 1% less inventory than they had over the past three years, so the drop off in Chinese shipments would have had significant impact. -Nike shares rise. The company is another key beneficiary of the US-China talks -- half of all Nike brand shoes are made in Vietnam, but overall trade optimism is helping. Last week, the company announced changes to its senior leadership team and divided its Consumer, Product, and Brand leadership will now be divided into three distinct areas.
Bloomberg
12-05-2025
- Business
- Bloomberg
AP Moller-Maersk Up, Novo Nordisk Slumps, Unicredit Up
On this episode of Stock Movers: - The US and China will temporarily lower tariffs on each other's products, according to a joint statement, in a move which sent the whole equity market up. Maersk are on track for their biggest one-day gain in a decade with trading volume quadruple the average for this time of day. - Drugmakers like Novo Nordisk are falling after President Donald Trump said he plans to order a cut in US prescription drug costs by mandating that Americans pay no more than people in countries that have the lowest price. - UniCredit posted its highest quarterly profit ever, strengthening Chief Executive Officer Andrea Orcel's hand as he pursues potential acquisitions.
