Bloomberg Quotes John Jonas on Likelihood of Congressional Drug-Pricing Deal in 2020

Bloomberg has quoted Akin Gump public law and policy partner John Jonas in the article “Congress Seeks Drug-Pricing Deal in Spite of 2020 Rancor.” The article reports that, while Congress is not expected to pass any meaningful legislation in this election year, some lawmakers are feeling pressure to reach a deal on reducing drug prices, which could result in a cap on out-of-pocket costs for Medicare beneficiaries.

Neither the prescription drug bill from Democrats in the House of Representatives nor the bipartisan proposal in the Senate Finance Committee has a chance of success in a divided Congress, the article says, but they could be the starting points for negotiations. According to Jonas, for any bill to pass this year, it would have to be “close to consensus to get through the buzzsaw.” He added, “You could certainly see a bill coming together that doesn’t significantly change the landscape. Stuff on the margin is generally where Congress comes down.”

Regardless of who wins the election in November, Jonas said congressional work this year is important to monitor because it will shape any action early in the next administration. By way of example, he pointed to the Trump tax cuts of 2017, which were largely drafted by Republican lawmakers during the Obama administration.