Insights: Policy

Drug Pricing (MFN)

One of CMS’s two Most-Favored-Nation (MFN) drug pricing models has moved to OMB review. The Guarding U.S. Medicare Against Rising Drug Costs, or GUARD, model (Part D model) is now at OIRA as a final rule (the final step before release). The Global Benchmark for Efficient Drug Pricing, or GLOBE, model (Part B) is not currently listed as under...

Medicare Drug Price Negotiation

CMS released a proposed rule to codify the Medicare Drug Price Negotiation Program for IPAY 2029 and later. The most notable new proposal would change how CMS treats certain fixed-combination products that are effectively new delivery versions of an existing drug.

Tech / Media / Telecom

The Federal Communications Commission’s (FCC) final rule governing the OBBBA-mandated Upper C-Band (3.98-4.2 GHz) auction is under review by the OMB’s Office of Information & Regulatory Affairs (OIRA). This is the last step in the regulatory process before the FCC releases orders for public review and votes on measures during an open meeting of...

FY27 Funding, Reconciliation, Iran Supplemental

In the last couple of days, the outlook for FY27 defense spending has come into greater focus. As we previously noted, the House Armed Services Committee (HASC) and Defense Appropriations Subcommittee have passed the annual defense policy bill (NDAA) and FY27 defense appropriations bill on a partisan Republican basis at $1,071b, the level...

Crypto Market Structure (CLARITY Act)

Negotiations surrounding the CLARITY Act are ongoing, with Senate Majority Leader Thune (R-SD) aiming to pass the bill on the Senate floor before the August Congressional recess. There has been no breakthrough on the various issues that remain outstanding in the wake of its passage in the Banking Committee last month, including an ethics...

Housing Supply, Reciprocal Deposits (ROAD to Housing Act)

The Senate appears prepared to vote on a modified version of the ROAD to Housing Act this week. As you may recall, the bill is primarily focused on modest policy changes intended to increase housing supply, including a significant positive regulatory change for manufactured housing. The text of the modified Senate version, which has not been...