Fact Sheet: Democrats’ Drug Price-Setting Scheme Dismantles Medicare’s Promise, Undermines Seniors’ Health
Washington, D.C.–The Biden Administration has announced the first 10 medications under its new Medicare price-setting plan for prescription drugs that was established by the Democrats’ so-called “Inflation Reduction Act.” This new regime to impose price-controls set by Washington bureaucrats is an unworkable, legally dubious scheme that will lead to higher prices for new drugs coming […]
Senate Finance Committee Leaders Praise Passage of Legislation to Help Lower Prescription Drug Costs
Washington, D.C.–Senate Finance Committee Ranking Member Mike Crapo (R-Idaho) and Chair Ron Wyden (D-Oregon) today lauded committee passage of the Modernizing and Ensuring PBM Accountability Act (MEPA), which was reported out of committee 26-1. The legislation brings more transparency, accountability and competition to pharmacy benefit manager practices in the drug supply chain, helping to lower […]
Crapo Statement at Health Care Legislation Markup
Washington, D.C.–U.S. Senator Mike Crapo (R-Idaho), Ranking Member of the U.S. Senate Finance Committee, delivered the following remarks at an open executive session to consider the Modernizing and Ensuring PBM Accountability Act (MEPA). As prepared for delivery: “Thank you, Mr. Chairman—and thank you to both you and your staff for the tireless work and collaboration […]
Crapo, Smith Seek Basic Information on Labor Department’s Fund to Combat Unemployment Insurance Fraud
Washington, D.C.– U.S. Senate Finance Committee Ranking Member Mike Crapo (R-Idaho) and U.S. House of Representatives Ways and Means Committee Chairman Jason Smith (R-Missouri) are asking the U.S. Department of Labor (DOL) for a detailed accounting of how it has utilized the $2 billion initially awarded to it under the American Rescue Plan Act (ARPA) […]
Senate Finance Committee Leaders Praise Passage of Bill to Approve Taiwan Trade Agreement
Washington, D.C.—U.S. Senate Finance Committee Ranking Member Mike Crapo (R-Idaho) and Chair Ron Wyden (D-Oregon) praised the Senate’s passage of their legislation to approve the first trade agreement signed under the U.S.-Taiwan Initiative on 21st-Century Trade and set robust transparency and consultation requirements for any future agreements negotiated under the initiative. The bill, which was […]
Senate Finance Republicans Call for Information and Investigation of IRS Agent Conduct
Washington, D.C.–Following reports from multiple, diverse outlets that raise serious questions and concerns about the Internal Revenue Service’s (IRS) adherence to the letter and spirit of taxpayer rights—standards which IRS Commissioner Werfel has previously pledged to uphold—U.S. Senate Finance Committee Republicans, led by Ranking Member Mike Crapo (R-Idaho), are calling for information from the IRS […]
Crapo, Smith: Latest OECD Guidance Acknowledges Biden’s Global Tax Surrender is Unworkable and Unlawful
Washington, D.C.–After the Organization for Economic Cooperation and Development (OECD) released new guidance on the global tax regime that would surrender American tax dollars to foreign governments, U.S. Senate Finance Committee Ranking Member Mike Crapo (R-Idaho) and U.S. House Committee on Ways and Means Chairman Jason Smith (R-Missouri) issued the following joint statement: Once again, the Biden Administration neglected to consult Congress […]
Crapo, Wyden, Smith, Neal Release Discussion Draft of Bill Providing Relief for U.S. and Taiwanese Workers and Businesses from Double Taxation
Washington, D.C.–U.S. Senate Finance Committee Ranking Member Mike Crapo (R-Idaho), Chair Ron Wyden (D-Oregon), U.S. House Ways & Means Committee Chair Jason Smith (R-Missouri) and Ranking Member Richard E. Neal (D-Massachusetts) released a discussion draft of legislation to provide relief from double-taxation for workers and businesses engaged in U.S.-Taiwan cross-border investment. Among other benefits, the bill would significantly reduce […]
Crapo, Wyden Solicit Policy Input on Taxation of Digital Assets
Washington, D.C.–U.S. Senate Finance Committee Ranking Member Mike Crapo (R-Idaho) and Chair Ron Wyden (D-Oregon) launched an effort to address uncertainties surrounding the tax treatment of digital assets with an open letter seeking input from experts, stakeholders and interested parties. “The rapid emergence of digital assets has raised novel regulatory issues, including the appropriate treatment […]
Senators Introduce Bipartisan Legislation to Ensure Medicare Beneficiaries Receive Coverage for Cancer Detection Technologies
Washington, D.C.–U.S. Senate Finance Committee Ranking Member Mike Crapo (R-Idaho) and Finance Committee member Michael Bennet (D-Colorado), along with Finance Committee members Tim Scott (R-South Carolina) and Ben Cardin (D-Maryland), are reintroducing legislation that would provide Medicare coverage for screening tests to save lives and costs to the health care system. The Medicare Multi-Cancer Early […]