Corporate and political opponents of President Biden’s signature economic package have intensified their campaign to kill a broad swath of the law before it takes effect.
The latest broadside arrived Friday, when the pharmaceutical giant Bristol Myers Squibb — a maker of the popular blood-thinner Eliquis — sued the Biden administration over its forthcoming program to lower prescription drug prices for seniors. The case marked the third such legal challenge against the U.S. government this month, raising the prospect that older Americans may never see cheaper pharmacy bills.
For Democrats, the adoption of the Inflation Reduction Act last year secured the final component of Biden’s vast economic agenda. It clinched the largest single burst of climate funding in U.S. history, and it introduced a bevy of long-sought health-care affordability programs targeted at seniors, including a cap on insulin prices for Medicare beneficiaries.
Some top executives have signaled they expect additional legal challenges on the near horizon. Asked about its plans at a Bloomberg investor conference earlier this month, for example, the chief executive of the drugmaker Biogen responded: “I think we’ll look at it.”“In Merck’s lawsuit, they talk about an ‘extortion,’ and I think that is accurate,” Chris Viehbacher said earlier in the conversation. “I’m personally not surprised by the lawsuit. I wouldn’t be surprised if you see more.
“It is finally time to be responsible stewards of taxpayer dollars by rescinding these new government giveaways,” said Rep. Andy Harris , a member of the far-right House Freedom Caucus, who leads a key congressional subcommittee overseeing some of the funds.Other Republicans have tried to narrow or eliminate a bevy of tax credits designed to spur the adoption of cleaner energy, including solar and wind power, even as their congressional districts benefit from an influx of new investment.
“The Republicans are putting themselves in political jeopardy by trying to attack the IRA, the provisions of which are incredibly popular,” said Ben LaBolt, the communications director at the White House.
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