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“Senate Minority Leader Mitch McConnell won’t support a bipartisan domestic manufacturing bill if Democrats try to lower prescription drug prices and tax the rich, the Kentucky Republican announced Thursday.
Bipartisan negotiators from the House and Senate have been hammering out a compromise of a bill boosting the semiconductor chip industry after each chamber passed its own version.
The Senate’s bill was called the United States Innovation and Competitiveness Act, or USICA. “Let me be perfectly clear: there will be no bipartisan USICA as long as Democrats are pursuing a partisan reconciliation bill,” McConnell tweeted on Thursday.
McConnell’s threat comes just as Democrats have made progress on a new budget reconciliation bill to replace the stalled Big Back Better Act. The centerpiece of the legislation would be a provision giving Medicare more power to negotiate with pharmaceutical manufacturers for lower prescription drug prices.
Senate Majority Leader Chuck Schumer (D-N.Y.) and Sen. Joe Manchin (D-W.Va.) have nearly finalized a prescription drug agreement, according to a source familiar with the negotiations. NBC News first reported the details of the plan on Thursday.” *
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