According to CBOs estimates, enacting those changes would lead to an average increase in premiums for Part D beneficiaries of about 5 percent in 2011, rising to about 20 percent in 2019, the Congressional Budget Office wrote on Aug. 29. However, beneficiaries spending on prescription drugs apart from those premiums would fall, on average, as would their overall prescription drug spending (including both premiums and cost sharing).
Another lobbyist who represented pharmaceutical companies said Wednesday that, Were not backing away from the agreement and neither is Finance.
Finance is opposed to the Nelson amendment as well as other Democrats, the lobbyist said. Theyre getting a lot of pressure from other Democrats not to offer the amendment.
The source also said Nelsons proposal is the biggest target among the 564 amendments currently under consideration by the Finance panel.
Another lobbyist agreed that the proposal was the biggest legislative item this week on PhRMAs plate, but said the issue was moot.
It would be a deal-breaker if it were to pass, but its not going to pass, the source said.
Rep. Elijah Cummings, D-Md., right, hugs Harold Schaitberger, General President of the International Association of Fire Fighters, after the Congressman spoke at the IAFF's Legislative Conference General Session at the Hyatt Regency on Capitol Hill, March 9, 2015. The day featured addresses by members of Congress and Vice President Joe Biden.