Gerald Scorse helped pass the bill requiring basis reporting on stock market capital gains. He writes articles on taxes.
Prices for prescription drugs in America average almost three times as much as in other major nations around the world. Even more, the companies that set those prices are doing everything they can to make sure they stay in the stratosphere: They’ve filed suit to overturn an upcoming reform, having Medicare negotiate the prices of some of the costliest and most commonly used drugs.The makers don’t think they need to explain themselves, either.
Here’s President Joe Biden taking a victory lap during his State of the Union address: “That’s not just saving seniors money, it’s saving taxpayers money. We cut the federal deficit by $160 billion because Medicare will no longer have to pay those exorbitant prices…”Other cost-saving provisions are coming as well. Starting in 2025, out-of-pocket prescription drug costs for retirees covered under Medicare Part D will be capped at $2,000.
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