80 national and state conservative organizations today came together in opposition to a proposed 95 percent excise tax on prescription medicines under consideration in the United States Senate. Read the joint letter here.
The new tax is the lynchpin of Senate Democratic efforts to resurrect "Build Back Better." Drug companies would be given the choice of charging patients this onerous tax (which would double the marginal price of a drug, much as gasoline prices have doubled in the Biden Administration), or submitting to a government price control (which would do to the drug supply chain what the Biden Administration's bungling did to the supply of baby formula).
A 95 percent drug tax is bad tax policy, and it's bad health care policy. No senator should feel comfortable explaining support for a 95 percent prescription drug tax to seniors back home.