Republicans criticize IRA drug price-setting, question funding
House, Senate Republicans request details on $3 billion set aside for Inflation Reduction Act implementation
The Republican chairs of the House Ways & Means and Energy & Commerce committees and ranking member of the Senate Finance Committee criticized the Inflation Reduction Act’s Medicare drug price-setting provisions and questioned the law’s allocation of $3 billion to CMS to implement the provisions.
The law, which Democrats enacted in 2022 under a budget reconciliation procedure with no Republican votes, imposes “misguided price controls that pose serious risks for current and future patients, as well as for our international leadership in medical innovation,” Ways & Means Chair Jason Smith (R-Mo.), Energy & Commerce Chair Cathy McMorris Rodgers (R-Wash.), and Sen. Mike Crapo (R-Idaho), ranking member of the Finance Committee, wrote in a letter to HHS Secretary Xavier Becerra and CMS Administrator Chiquita Brooks-LaSure. ...