With help from Eli Okun and Garrett Ross
BREAKING — Democrats have lost a key piece of the prescription drug pricing reform policy in their reconciliation bill.
In an email to Senate staffers at 3:30 a.m., ELIZABETH MACDONOUGH, the Senate parliamentarian, released her long-awaited guidance on the drug pricing plan. The good news for Democrats is that most of their drug reform proposals survived.
There are two crucial policies to lower drug prices in the bill. The first is the one you hear the most about: requiring the federal government to negotiate prices for a limited number of expensive prescription drugs covered by Medicare. One of the key enforcement mechanisms for this policy is an excise tax of up to 95%…