Trump Big Pharma Tax Cut Instead of Lowering Drug Prices After Sketchy $2.5M Payout
One of Trump’s campaign promises was to lower drug prices. Trump said they were “getting away with murder.” He has not accomplished his pledge, and new tax filings may reveal why he instead gave the pharmaceutical companies a tax break. In 2017 Pharmaceutical Research and Manufacturers of America gave $2.5 million to a pro-Trump advocacy group called America First Policies Inc.
Topping America First Policies’ known donor list for its first year of operation is the Pharmaceutical Research and Manufacturers of America (PhRMA), a trade group representing the drug company industry’s lobbying interests, which disclosed giving $2.5 million to America First Policies in a new tax return obtained by the Center for Responsive Politics and first identified by Maplight.” – Open Secrets
Drug prices have not come down and are in fact on a steep rise, but Trump has falsely taken credit for lowering drug costs.
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There were fewer price increases this year from January through July than in comparable prior-year periods, but companies still hiked prices far more often than they cut them. This year through the end of July, there were 4,412 brand-name drug price increases and 46 price cuts. To put it another way: For every price decrease over those seven months, there were 96 price hikes.” – Associated Press
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While Trump has moved to allow limited negotiation in some parts of Medicare, he has rejected the larger policy he campaigned on, leaving it out of his prescription drug proposal released earlier this year.” – Captian & Main