Chuck Grassley - Ranking Member of the Budget committee | https://www.budget.senate.gov
Chuck Grassley - Ranking Member of the Budget committee | https://www.budget.senate.gov
Senate Budget Committee Ranking Member Chuck Grassley (R-Iowa) and House Budget Committee Chairman Jodey Arrington (R-Texas) are requesting an analysis from the Congressional Budget Office (CBO) on a new demonstration program initiated by the Biden-Harris administration. This program aims to lower Medicare Part D premium payments using taxpayer funds. Known as the Premium Stabilization Demonstration Program, it was introduced in response to the Inflation Reduction Act (IRA), which has led insurers to increase premiums for seniors and reduce plan options.
“The Biden-Harris administration’s cost-shifting plan is like putting lipstick on a pig. Americans are paying too much for prescriptions – the IRA exacerbated the problem, and now the executive branch is attempting to patch things up ahead of November,” Grassley commented on the bicameral effort. “Rather than shuffling taxpayer money around to blur IRA ramifications and bail out big health insurance companies, Democrats ought to focus on enacting bipartisan legislation Senate committees have already passed to shine light on the pharmaceutical industry.”
Joining Grassley and Arrington in this request are Senate Finance Committee Ranking Member Mike Crapo (R-Idaho), House Energy and Commerce Committee Chairwoman Cathy McMorris Rodgers (R-Wash.), and House Ways and Means Committee Chairman Jason Smith (R-Mo.).
The lawmakers' full letter to CBO Director Phillip Swagel can be accessed through their official channels.
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