By: Jacob Sexton — [email protected]
Humboldt, IA — Iowa Senator Chuck Grassley (R) has been headlines as of late as he has co-authored a bi-partisan bill to combat prescription drug prices for people over the age of 65.
Grassley is the chairman of the Senate Finance Committee and passed the bill last week to send it to the House floor. However, the bill has naturally gained opposition from the pharmaceutical industry but also now from fellow Republicans.
Highlights of the bill include penalizing companies who raise drug prices for seniors over the rate of inflation and put a $3100 limit on out of pocket costs for Americans on Medicare according to O. Kay Henderson of Radio Iowa.
It is unclear whether the House will take up the bill or move forward with one of their own as national news outlets have reported that House Democrats were looking for a September date on their own proposal. The Prescription Drug Pricing Reduction Act passed the Senate Finance Committee with a vote of 19-9.