Insights: Policy

Defense Industry Compensation/Capital Distributions

President Trump earlier this month issued an executive order (EO) that would cap executive pay for defense contractors and limit dividends and stock buybacks. Trump said the EO is designed to address “how slowly these Companies are delivering vital Equipment to our Military, and our Allies.” It is notable that key Congressional players on...

Defense Spending

Bipartisan leaders of House and Senate Appropriations Committees unveiled their FY26 defense appropriations bill this week, which allocates $839.2b for the Pentagon, ~$10b more than the White House requested. The House is planning to pass the bill tomorrow and the Senate will do so next week, ahead of the 1/31 date at which temporary funding...

Bipartisan leaders of the House and Senate Appropriations Committees have reached a deal setting FY26 funding for HHS and its sub-agencies, including NIH. This funding is included in the broader FY26 Labor/HHS appropriations bill. The deal largely conforms with the language approved by Senate Appropriations in June of last year. The House is...

Pharmacy Benefit Managers (PBMs)

Leadership of the House and Senate Appropriations Committees have included PBM reform provisions in their bipartisan deal on the FY26 Labor/HHS appropriations bill. The House is planning to vote on this and other appropriations bills on Thursday as part of a combined “minibus.” The Senate will likely pass the bill and send it to the President’s...

Judge Walker of the U.S. District Court for the District of Maine temporarily blocked the Health Resources and Services Administration (HRSA) from implementing its 340B Rebate Pilot Program, which would have allowed drugmakers to provide 340B-discounted drug prices using a rebate mechanism. The Trump administration subsequently requested the...

After a surge in activity last week, movement toward a bipartisan deal extending the expired ACA enhanced subsidies (eAPTCs) has stalled and begun to wane. Senate Majority Leader Thune (R-SD), while still supportive of the notion of a deal, has indicated this needs to be wrapped up by the end of January. However, bipartisan negotiations in the...