Insights: Clients

Pharmacy Benefit Managers (PBMs)

Republicans on the House Energy & Commerce (E&C) Committee have included as part of their section of the reconciliation bill various reforms regarding PBMs. Specifically, those include (1) a ban on spread pricing in the Medicaid program, (2) a prohibition on PBM compensation being based on a drug’s list price in the Medicare Part D program (so...

Affordable Care Act (ACA) Subsidies

The House Ways & Means (W&M) Committee has released the legislative text covering its portion of Republicans’ reconciliation legislation. Notably, the bill text does not include an extension of the ACA enhanced subsidies (which will expire at the end of this calendar year). However, the bill – as well as the E&C bill – includes various...

After weeks of debate, the House Energy & Commerce (E&C) Committee has released the legislative text covering its portion of Republicans’ reconciliation (tax/spending) legislation. A markup (vote) on the measure will occur later today. As previously noted, E&C faced a minimum $880b target for spending reductions, the bulk of which was expected...

Recent/upcoming developments… Treasury Secretary Bessent and USTR Greer are meeting with Chinese Vice Premier He Lifeng in Switzerland tomorrow, which is the first formal trade discussion between the two countries since President Trump’s inauguration. Bessent has said the first step in the discussions will be over lowering tariffs. Trump posted...

Trade (UK/Other)

Recent/upcoming developments… President Trump yesterday announced a trade deal with the U.K., which is essentially an agreement in principle that requires many issues and details to still be worked out. USTR Greer touted the deal as a framework that will be used with other countries, while the administration has said they are evaluating offers...

Tech / Media / Telecom

AI/Semiconductors

Recent/upcoming developments… The Trump administration is rescinding a Biden-era semiconductor export control rule that was scheduled to go into effect on 5/15, and according to reports, within four-to-six weeks, the adminsitration is apparently planning to replace it with what they say will be a “much simpler rule” that will restrict U.S. sales...