House Speaker Nancy Pelosi's drug pricing plan was approved by the House Ways and Means Committee Oct. 22 and is now ready for a full House vote, according to CNBC.
The vote is expected to take place by the end of the month and the bill has a high chance of approval in the Democrat-controlled House.
The Education and Labor Committee and Energy and Commerce Committee made a few changes to the bill last week.
Republicans have expressed concern that the legislation was rushed and will not pass the Senate. Rep. Kevin Brady, the top Republican on the Ways and Means Committee, said the plan was highly partisan, secretly written and did not have any chance of becoming law.
"This is a dangerous bill with long-term consequences and it doesn't have to be that way," Mr. Brady told CNBC.
Republicans opposed to Ms. Pelosi's bill have cited a report from the Congressional Budget Office released Oct. 11 that said the plan would reduce the number of new drugs coming to the market over the next decade. However, the report also showed the plan would save Medicare $345 billion over the next decade.
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