The U.S. Chamber of Commerce has asked a federal judge in Ohio to block the implementation of the “Medicare Drug Price Negotiation Program” established under the Inflation Reduction Act (IRA).
President Joe Biden signed the IRA into law in August 2022, enabling Medicare to directly negotiate drug prices for certain costly medications. The program has the potential to save Medicare nearly $100 billion between 2026 and 2031, according to estimates from the Congressional Budget Office (CBO).
