Congressional Democrats are one step closer to passing their trillion-dollar "Build Back Better" spending package.
On July 6 U.S. Senate leaders hashed out a key proposal that would allow Medicare to "negotiate" with pharmaceutical companies over prescription drug prices.
The effort is part of Senate Majority Leader Charles Schumer's, D- N.Y., drive to coax centrist Sen. Joe Manchin, D-W. Va., into voting for the huge spending bill.
But what Democrats are contemplating is actually a de facto system of price controls — and it would destroy the market for drug research.
Read more: Nothing Curative About Dems Inflation, Higher Taxes and Prices
