Congressional Republicans Push for Transparency, Accountability of Drug Price-Setting Fund

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U.S. Senator Mike Crapo (R-Idaho), Ranking Member of the Senate Finance Committee, U.S. House Ways and Means Chair Jason Smith (R-Missouri) and U.S. House Energy and Commerce Chair Cathy McMorris Rodgers (R-Washington) are requesting detailed information from top government health officials regarding the $3 billion drug price-setting implementation fund included in the Inflation Reduction Act (IRA).

In a letter to Health and Human Services (HHS) Secretary Becerra and Centers for Medicare and Medicaid Services (CMS) Administrator Brooks-LaSure, the members note the partisan IRA directs a “baffling $3 billion to the implementation of misguided price controls,” but provides no reporting requirements or other safeguards with respect to the implementation funding.

Republicans assert that without proper oversight, the $3 billion fund will likely result in wasteful government expansion and bureaucratic bloat, raising program integrity, deficit reduction and good governance concerns.

The full letter can be found here.

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