Inflation Reduction Act's drug price caps scheme will reduce supply of medicines WashTimesOpEd
“War is peace”; “Freedom is slavery.” And while the dystopian trope is admittedly overused, real-life examples increasingly abound. Take the recently enacted Inflation Reduction Act, a master class in distorting everyday words. Yes, the law does nothing to reduce inflation. But there’s a far deeper and more cynical abuse of language at work in its pages. For example, the law’s debauched use of the words “negotiation” and “fair” befits even the most Orwellian regime.
Worse still, if HHS tries to negotiate the price of a statutorily ineligible medicine or miscalculates a “fair” price below the statutory cap, the manufacturer has no legal recourse. The IRA bars administrative or judicial review of either HHS’ eligibility determination or the amount of a maximum fair price. In other words, manufacturers face a stark choice: It’s your money or your medicine.
In a constitutional republic like ours, one deeply rooted in property rights and free markets, the implications of the IRA’s shakedown scheme are staggering. Start with due process. The right to a hearing is indispensable to due process of law. Even the notorious Star Chamber, with its privy councilors and common law judges, gave the accused their day in court.
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