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The Wall Street Journal: Democrats reach a deal on prescription drug prices in social-spending bill

WASHINGTON—Senate Majority Leader Chuck Schumer said Democrats have reached a deal on prescription drug pricing as part of their social-spending and climate bill, making progress on one of several final issues Democrats are discussing in the negotiations.

“I’m pleased to announce that an agreement has been reached to lower prescription drug prices for seniors and families in the Build Back Better legislation,” said Mr. Schumer (D., N.Y.), using the Democrats’ name for the package.

Mr. Schumer said the agreement would empower Medicare to negotiate the price of some prescription drugs and cap out-of-pocket costs for seniors, among other steps.

Drug pricing provisions were left out of the $1.85 trillion framework released by the White House last week.

An expanded version of this story appears on WSJ.com.

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