HomeBusinessRepublicans block cap on insulin costs for many Americans from Democratic deal

Republicans block cap on insulin costs for many Americans from Democratic deal

U.S. Senate Minority Leader Mitch McConnell (R-KY) speaks to reporters following the Senate Republicans weekly policy lunch at the U.S. Capitol in Washington, July 19, 2022.

Elizabeth Frantz | Reuters

Republican senators on Sunday voted down a cap on the price of insulin in the private market, removing it from Democrats’ sweeping climate and economic package.

Democrats had tried to preserve the provision to cap insulin costs at $35 for private insurers, but that vote failed 57-43, with seven Republicans voting with them to keep the insulin cost cap in the bill, three short of what was needed.

The move was expected following a decision by the Senate parliamentarian, who determined earlier that the insulin provision was not compliant with the chamber’s strict budget rules. Democrats need to comply with those rules to advance the legislation, called the Inflation Reduction Act, without any…

Read more at www.cnbc.com

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