How CBO Estimated the Budgetary Impact of Key Prescription …

Nov 23, 2021 · CBO describes how it estimated the budgetary impact of three key prescription drug provisions in the 2022 reconciliation act. In total, those provisions will reduce the federal deficit by $129 billion from 2022 through 2031, CBO estimates. ... The Congressional Budget …

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How CBO Estimated The Budgetary Impact Of Key Prescription …

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Feb 19, 2023 · "This slide deck focuses on three key drug-related policies that, together, are responsible for $129 billion of that reduction. To explain how the agency reached its estimate, …

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How does the 2022 Reconciliation Act affect prescription drug prices?

The 2022 reconciliation act includes several provisions that affect prescription drug prices and coverage under Medicare. The Congressional Budget Office estimated that those provisions would reduce the federal budget deficit by $237 billion from 2022 to 2031. ...

How much would a prescription drug package reduce the deficit?

The Congressional Budget Office (CBO) released estimates of the draft text for a prescription drug package that could be part of an upcoming reconciliation bill. CBO estimates these provisions would reduce the deficit by $287 billion through 2031, with $321 billion in gross savings and $34 billion in new spending. ...

Will drug prices reduce the federal deficit?

This legislation has taken shape amidst strong bipartisan, public support for the government to address high and rising drug prices. CBO estimates that the drug pricing provisions in the law will reduce the federal deficit by $237 billion over 10 years (2022-2031). The prescription drug provisions included in the Inflation Reduction Act will: ...

What is the role of the CBO in prescription drugs?

The Congressional Budget Office (CBO) analyzes issues related to prescription drug regulation, coverage, and payment and estimates the budgetary effects of related legislative proposals. CBO issues a volume containing short descriptions of 59 policy options that would each reduce the federal budget deficit by less than $300 billion over the next 10 years. ...

How does the inflation Reduction Act affect prescription drug costs?

The Inflation Reduction Act includes several provisions that will lower prescription drug costs for people with Medicare and reduce drug spending by the federal government. This brief summarizes these provisions and discusses the expected effects on people, program spending, and drug prices and innovation. ...

Did the CBO really know how much a drug bill would cost?

At the time, some of the drugs the CBO was trying to price didn't even exist yet. But the CBO still had to tell Congress how much the bill would cost — even though the agency knew better than anyone that its math would almost definitely be wrong. Today's show was produced by Willa Rubin and Dave Blanchard, with engineering help from Josh Newell. ...