fbpx
Connect with us

Louisiana Illuminator

Biden administration chooses first 10 drugs for Medicare price negotiations

Published

on

lailluminator.com – Ashley Murray – 2023-08-29 12:03:00

Biden administration chooses first 10 drugs for Medicare price negotiations

by Ashley Murray, Louisiana Illuminator
August 29, 2023

WASHINGTON — Medicare can now negotiate lower prices for 10 common high-price drugs, cutting out-of-pocket costs for an estimated 9 million seniors and saving taxpayers billions, the Biden administration said Tuesday.

Medicare will begin this year to negotiate with the manufacturers of popular medications used to treat blood clots, diabetes, heart disease, rheumatoid arthritis, chronic kidney disease, psoriasis, blood cancers, Crohn's disease and ulcerative colitis.

Enrollees will begin to see lower prices in 2026.

The prescription drug negotiations are a result of last year's Inflation Reduction Act, a massive spending package that contained measures to reduce prescription drug prices, subsidize climate change reduction technology and adjust the corporate tax rate.

“For far too long, Americans have paid more for prescription drugs than any major economy. And while the pharmaceutical industry makes record profits, millions of Americans are forced to choose between paying for medications they need to live or paying for food, rent, and other basic necessities. Those days are ending,” President Joe Biden said in a statement Tuesday.

About 9 million enrollees in Medicare's Part D prescription drug coverage program spent $3.4 billion out of pocket in 2022 on the 10 drugs selected for negotiation, according to a report released Tuesday by the U.S. Department of Health and Human Services.

The 10 drugs are: Eliquis, Enbrel, Entresto, Farxiga, Imbruvica, Januvia, Jardiance, multiple Fiasp and NovoLog insulin products, Stelara and Xarelto.

Democrats hailed the announcement of the selected drugs. The party held majorities in both the House and Senate when Congress passed the Inflation Reduction Act along party lines in August 2022.

“For years politicians promised to take on the big drug companies and empower Medicare to negotiate lower drug prices for consumers. With the Inflation Reduction Act Democrats have delivered. Soon millions of Americans will see lower prices on some of the most expensive and widely used prescription drugs,” Senate Majority Leader Chuck Schumer of New York said in a statement Tuesday.

Sen. Jon Tester, a Montana Democrat, said in a statement that his constituents “should never have to make the choice between life-saving medication or putting food on the table.”

“I am proud to have stood tough against large pharmaceutical corporations and successfully demand that they stop unnecessarily jacking up prices on folks across the state. Montanans sent me to Washington to deliver results, and I will continue to take on anyone to lower costs,” he said.

Of the nearly 66 million Americans enrolled in Medicare, 52 million are enrolled in the Part D prescription drug coverage plan, according to the Centers for Medicare and Medicaid Services enrollment dashboard.

The Inflation Reduction Act also made common adult vaccines, including shingles and TDAP, free for certain Medicare enrollees. Monthly insulin costs for Medicare enrollees were also reduced to $35 for Part D beneficiaries as part of the IRA, and beginning in 2025 annual out-of-pocket prescription drug costs will be capped at $2,000.

The law's prescription drug provisions, including the government's new ability to negotiate what it pays for certain drugs, is expected to reduce the federal deficit by $129 billion by 2031, according to a Congressional Budget Office analysis.

The government will choose 15 additional Part D-covered drugs in 2025 to negotiate lower prices beginning in 2027. Several more Part D and Part B drugs will be phased in for negotiations through 2029.

GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX

SUBSCRIBE

Louisiana Illuminator is part of States Newsroom, a network of news bureaus supported by grants and a coalition of donors as a 501c(3) public charity. maintains editorial independence. Contact Editor Greg LaRose for questions: info@lailluminator.com. Follow Louisiana Illuminator on Facebook and Twitter.

Read More

The post Biden administration chooses first 10 drugs for Medicare price negotiations appeared first on lailluminator.com

Please follow and like us:
Pin Share

Louisiana Illuminator

Landry removes job requirements, trumps local authority for industrial tax breaks

Published

on

lailluminator.com – Greg LaRose – 2024-02-22 05:00:54

Landry removes job requirements, trumps local authority for industrial tax breaks

by Greg LaRose, Louisiana Illuminator
February 22, 2024

Companies that receive major breaks on their local property taxes to invest in large industrial projects in Louisiana will no longer have to set hiring goals to get the incentive, plus they won't need approval from local taxing authorities if the governor is in favor of their proposal.   

Gov. Jeff Landry signed an executive order Wednesday that upends the standards and approval process that's been place for the Industrial Tax Exemption Program (ITEP) since 2016. The signing took place during the governor's appearance at a Louisiana Association of Business and Industry luncheon, according to the Baton Rouge Business Report

“This program is about capital investment. It is not about job creation,” Landry said.

Since 1998, Louisiana has awarded more than $20 billion in local tax breaks to industry through its Industrial Tax Exemption Program, according to an Ohio River Valley Institute analysis. 

Flow from the ITEP spigot slowed significantly in 2016 then-Gov. John Bel Edwards issued an executive order that required local approval of industrial tax exemptions. He also reduced the tax break available from 100% of property taxes to 80% and inserted a job-creation requirement for companies. Landry's order keeps the tax reduction at the same level.

The executive order he signed Wednesday also condenses the process for companies to receive local approval on their tax exemptions. Previously, each local body that collects property taxes had to approve tax breaks independently with a separate public hearing. For example, a parish school board could approve the tax exemption, but a parish council or sheriff could reject it. The business would then receive a partial tax break.  

Landry's new arrangement calls for a single parish industrial board, which would include representatives from the taxing agencies, to consider ITEP applications. Its vote would apply to all local agencies that receive property taxes, meaning companies would get approval a total tax break or none.

The executive order also upends the sequence of approval to award industrial tax exemptions, placing ultimate power in the governor's hands. Local approval has been necessary for an ITEP request to advance for consideration to the state Board of Commerce and Industry, a 24-member panel of appointees from business groups and the governor. 

Now, under Landry's order, companies will first submit their applications to the Board of Commerce and Industry. If their request is approved, the state panel will then notify a parish industrial board that it must hold a public hearing on the application within 45 days.

However, the order says little about what weight the local recommendation has in the ITEP approval process or how it factors into the governor's decision.

“Input from the Local ITEP Committee is important for consideration of an industrial tax exemption; however, it should not unduly delay the ITEP application process,” the order reads.

In an email, the Illuminator asked Landry spokesperson Kate Kelly about the governor's ability to override a local ITEP vote.

“The governor is the final say,” Kelly said.

Together Louisiana, a coalition of church and civic groups, has been highly critical of the state's generous ITEP giveaways. In a statement Wednesday, the group questioned whether Landry's order turned the incentive program into “a gift.”

“If a corporation gets a tax exemption, not to bring in a new plant or create jobs, but just as a public subsidy for its routine capital investments — investments, that is, that would have happened anyway — the result is not economic development. It's the opposite,” the Together Louisiana statement said. 

“In that scenario, local communities don't get new economic activity, but they still lose the millions in tax revenue from their schools, roads and police,” the statement continued. “They lose jobs — the teachers, construction workers, sheriff's deputies and others who would have provided the services that went unfunded. And their property taxes start going up, to fill the holes in the tax base left by each new round of gratuitous giveaway.”

Without any job requirements, companies can now apply for tax exemptions for most any large-scale investment in Louisiana. Landry's order does specify that maintenance expenses, environmental compliance upgrades and replacement parts that are not part of an extensive restoration do not qualify for ITEP awards.

The order goes into effect for all ITEP applications moving forward, effective Feb. 21, but does not apply retroactively to applications or exemptions.

SUPPORT NEWS YOU TRUST.

DONATE

Louisiana Illuminator is part of States Newsroom, a nonprofit news network supported by grants and a coalition of donors as a 501c(3) public charity. maintains editorial independence. Contact Editor Greg LaRose for questions: info@lailluminator.com. Follow Louisiana Illuminator on Facebook and Twitter.

Read More

The post Landry removes job requirements, trumps local authority for industrial tax breaks appeared first on lailluminator.com

Please follow and like us:
Pin Share
Continue Reading

Louisiana Illuminator

Criminal justice reform advocates ask court to force Legislature to hear from public

Published

on

lailluminator.com – Piper Hutchinson – 2024-02-21 16:51:56

Criminal justice reform advocates ask court to force Legislature to hear from public

by Piper Hutchinson, Louisiana Illuminator
February 21, 2024

Three Louisiana criminal justice reform advocates have asked a state court to prevent the Legislature from discussing several proposals until more public testimony is heard on the bills. 

Their petition was filed Wednesday in 19th Judicial District Court in Baton Rouge by Norris Henderson, executive director of Voice of the Experienced, Ronald Marshall, chief policy analyst with Voice of the Experienced, and Erica Navalance, a staff attorney with the Promise of Justice Initiative. Read the full petition below. 

They contend House Administration of Criminal Justice Chair Rep. Debbie Villio, R-Kenner, has irregularly limited public input over two days of hearings during a special session on crime policy. The agenda for the session features a string of bills, with Gov. Jeff Landry's support, that call for harsher consequences for criminals.   

The committee enacted a rule to limit each public commenter to three minutes and cut off public debate after proponents and opponents of a bill each testified for one hour. The three-minute rule is a common practice at the Capitol, but overall time limits are seldom used. 

GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX

SUBSCRIBE

Committee members said they supported these rules to get through testimony more quickly. On Tuesday and Wednesday, the committee had a full schedule of bills that attracted a large number of public comments. The special session doesn't have to end until March 5, but leaders have suspended the rules several times in order to expedite hearings on bills rather than letting them lay over for a day between hearings. 

House Democratic Caucus Chair Rep. Matthew Willard of New Orleans and other Democrats have criticized Republicans for fast-tracking legislation that would almost totally reshape Louisiana's criminal justice system, giving the public limited opportunity for input. 

The court petition seeks to prevent the full House of Representatives from discussing the bill until the House Criminal Justice Committee holds another hearing to allow more public comment. The complainants say they traveled to Baton Rouge to testify, but the committee's time limits prevented them from speaking. 

House Speaker Phillip Devillier, R-Eunice, defended the committee, arguing two hours of discussion per bill is reasonable, and that the Legislature is allowed to suspend the rules to advance bills. 

The complainants want to pause debate on four bills: 

House Bill 4, by Rep. Julie Emerson, R-Carenco, which limits post-conviction relief opportunities. House Bill 6, by Rep. Nicholas Muscarello, R-Hammond, which expands the methods by which Louisiana executes people and shields records related to executions from public viewHouse Bill 9, by Villio, which eliminates parole in almost all circumstances House Bill 10, by Villio, which limits good time credits and credit for time served

 

Louisiana Illuminator is part of States Newsroom, a nonprofit news network supported by grants and a coalition of donors as a 501c(3) public charity. maintains editorial independence. Contact Editor Greg LaRose for questions: info@lailluminator.com. Follow Louisiana Illuminator on Facebook and Twitter.

Read More

The post Criminal justice reform advocates ask court to force Legislature to hear from public appeared first on lailluminator.com

Please follow and like us:
Pin Share
Continue Reading

Louisiana Illuminator

Biden unveils latest round of student loan cancellation to aid 153,000 borrowers

Published

on

lailluminator.com – Jennifer Shutt – 2024-02-21 16:26:30

Biden unveils latest round of student loan cancellation to aid 153,000 borrowers

by Jennifer Shutt, Louisiana Illuminator
February 21, 2024

President Joe Biden expanded his push to eliminate student loan debt Wednesday, saying during a speech the initiative is part of a campaign promise to address the “broken” system.

“While a college degree is still a ticket to a better life, that ticket is too expensive,” Biden said. “And too many Americans are still saddled with unsustainable debt in exchange for a college degree.”

Biden, who made his remarks while on a trip to California that also included fundraising for his 2024 campaign, argued that canceling student loan debt not only helps those who receive the benefit directly, but those in their communities.

“When people's student debt is relieved, they buy homes, they start businesses, they contribute, they engage in the community in ways they weren't able to before and it actually grows the economy,” Biden said.

The latest round of student debt forgiveness includes nearly 153,000 borrowers and a total of $1.2 billion in debt, according to a fact sheet from the White House.

Those receiving loan forgiveness are enrolled in the Saving on a Valuable Education or SAVE repayment plan, have been paying back their loans for at least 10 years and originally took out less than $12,000 in loans.

This week's actions bring total student loan cancellation by the Biden administration to $138 billion for nearly 3.9 million people, according to the fact sheet.

GET THE MORNING HEADLINES DELIVERED TO YOUR INBOX

SUBSCRIBE

Repayments tied to income, family size

The so-called SAVE Plan allows borrowers to set their student loan repayments based on their income and family size, not the amount of student loan debt they hold.

“The SAVE plan ensures that if borrowers are making their monthly payments, their balances cannot grow because of unpaid interest,” according to the White House's fact sheet. “And, starting in July, undergraduate loan payments will be cut in half, capping a borrower's loan payment at 5% of their discretionary income.”

Education Secretary Miguel Cardona said on a call with reporters Tuesday there are about 7.5 million people enrolled in the SAVE Plan and that 4.3 million don't have a monthly payment.

“Many SAVE forgiveness recipients come from lower- and middle-income backgrounds,” Cardona said. “Many took out loans to attend community colleges. Some were at high risk for delinquency and default. That's why the actions we're announcing today do matter.”

Cardona said those eligible for this round of student debt cancellation would receive an email from Biden telling them about the move.

New FAFSA rollout criticized

Louisiana Republican Sen. Bill Cassidy said in a written statement the latest round of student loan forgiveness is misguided.

“The Biden Department of Education has been unable to fulfill their basic responsibilities mandated by Congress and essential to families, like implementing FAFSA,” Cassidy said, referring to the application college students fill out to access student aid, including grants, scholarships and loans.

The Biden administration's efforts to revamp the form have been marred by delays and errors. 

“Instead, they have spent a considerable amount of time prioritizing their student loan schemes to shift someone else's debt onto taxpayers that chose not to go to college or already paid off their loans,” Cassidy added. “This is unfair, manipulative and a cynical attempt to buy votes.”

Cassidy is the ranking member on the U.S. Senate's Health Education Labor and Pensions Committee, often referred to as the HELP Committee.

SUPPORT NEWS YOU TRUST.

DONATE

Supreme Court decision

Biden, speaking at the Julian Dixon Library in Culver City, California, criticized the U.S. Supreme Court for blocking his original student loan forgiveness plan. 

“Early in my term, I announced a major plan to provide millions of working families with debt relief for their college student debt,” Biden said. “But my MAGA Republican friends in the Congress, elected officials and special interests stepped in and sued us. And the Supreme Court blocked it. But that didn't stop me.”

Biden said the justices' opinion in that case led him to “pursue alternative paths” for student debt relief, which includes the announcement he made Wednesday.

Canceling some student loan debt, Biden said, is about giving people a chance.

“That's all we're doing … giving people a chance, a fighting chance to make it, because no one who is willing to work hard in America should be denied the opportunity to have that chance.”

Louisiana Illuminator is part of States Newsroom, a nonprofit news network supported by grants and a coalition of donors as a 501c(3) public charity. maintains editorial independence. Contact Editor Greg LaRose for questions: info@lailluminator.com. Follow Louisiana Illuminator on Facebook and Twitter.

Read More

The post Biden unveils latest round of student loan cancellation to aid 153,000 borrowers appeared first on lailluminator.com

Please follow and like us:
Pin Share
Continue Reading

News from the South

Trending