Big Pharma’s Favorite Democrats Saved the Drug Industry Half a Trillion Dollars

[basquebromance]

Big Pharma’s Favorite Democrats Saved the Drug Industry Half a Trillion Dollars

Corporate Democrats like Senator Kyrsten Sinema saved Big Pharma $450 billion by watering down the party’s drug pricing plan.

jacobinmag.com

Kyrsten Sinema hates being called "Kristen" almost as she hates being called a Democrat

 

[basquebromance]

"That represents a return of more than 1,700 times the investment the drug industry has made on lobbying Congress this year"

"This outcome illustrates why industry groups are willing to throw ungodly sums of money at influencing Washington lawmakers. While spending hundreds of millions on lobbying and advocacy efforts might seem exorbitant, it’s nothing compared to the hundreds of billions these business interests stand to lose if legislative decisions don’t go their way."

"In September, House Democrats estimated that the drug pricing provisions in their Build Back Better agenda reconciliation bill would save $700 billion over a decade. Democrats’ compromise drug plan — negotiated by pharmaceutical industry favorites Senator Kyrsten Sinema of Arizona, Representative Scott Peters of California, and Representative Kurt Schrader of Oregon — would only save $250 billion during that same time, according to the Committee for a Responsible Federal Budget, a pro-austerity think tank. The difference equals $450 billion in savings"

 

[Moonglow]

Yet, the Republicans helped out big pharma much more than the Democrats.