Imposing Price Controls Is Never The Answer

The Senate Health, Education, Labor, and Pensions (HELP) Committee is currently reauthorizing the Pandemic and All-Hazards Preparedness Act (PAHPA), which is supposed to help us prepare for the next public health emergency.

Never missing an opportunity to impose price controls on anything and everything, Senator Bernie Sanders (I-VT) wants to use this legislation to benchmark the price of innovative medicines that received some federal support at the basic research stage to the prices in the other G-7 nations. Since these nations impose restrictive price controls, Senator Sanders is proposing price controls by stealth.