The House could vote on a major overhaul of the nation’s prescription drug program as early as this month, Majority Leader Steny Hoyer said Friday.
In a letter to fellow Democrats, the lawmaker from Maryland said the Lower Drug Costs Now Act will be under considerations by several House panels when Congress returns to session next week.
“And it is possible that we will consider it on the floor the week of Oct. 28,” Hoyer said.
The measure would give the federal government the authority to directly negotiate prescription drug prices and would fine companies that refuse to participate.
It would also cap out-of-pocket costs for prescription drugs under Medicare.
Rising drug prices and the affordability of prescriptions are a top concern among voters, and both parties are eager to propose reforms.
Republicans do not back the plan proposed by House Democrats and argue it will stifle innovation.
The GOP-led Senate advanced its own plan aimed at lowering prescription drug prices.
The bill would cap what people on Medicare pay for drugs at $3,100 a year beginning in 2022 and would cap drug costs by forcing drug companies to give rebates to Medicare if they increase their prices above inflation, among more than two dozen other provisions.
