Bush: No Medicare price negotiations
White House vows veto on eve of House action
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Last Update: 5:23 PM ET Jan 11, 2007
WASHINGTON (MarketWatch) -- President Bush would veto Democratic legislation allowing the federal government to negotiate drug prices for seniors and others enrolled in Medicare's prescription-drug plan, the White House said Thursday.
Congressional Democrats have made price negotiations a top feature of their legislative agenda. The House is expected Friday to pass legislation that would lift the restriction on drug-price negotiations.
'If
were presented to the president, he would veto the bill.'
— White House Office of Management and Budget
The Democratic bill would lift a noninterference clause in the Medicare prescription-drug law. Backers argue that the measure would allow the Health and Human Services Department to negotiate lower prices on a number of popular drugs, allowing the savings to be used to plug holes in coverage for many seniors.
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