Water utilities may need to spend more than $275 billion to replace the country's 6 million lead service lines, according to Fitch Ratings. A recent survey by the Environmental Protection Agency found that water infrastructure improvements may cost $385 billion through 2030.
Democratic presidential candidate Hillary Clinton has announced a $275 billion infrastructure plan. She wants to see additional spending on the construction and repair of the country's bridges, ports, highways, airports, sewer systems and electric grid. Clinton hasn't yet detailed how she'll fund the program. Vermont Sen. Bernie Sanders, who is challenging Clinton for the Democratic nomination, has pledged $1 trillion in infrastructure spending.
Anheuser-Busch InBev, the biggest brewing company in the world, has offered to acquire its largest competitor, SABMiller. The combined entity would have a market value of $275 billion and produce nearly 30% of the world's beer.
The Federal Trade Commission is urging the Supreme Court to prevent brand-name drugmakers from paying rival generic-drug makers to delay the availability of cheaper generic drugs. The justices will listen to arguments today in a case that will affect the health of patients as well as drug prices. "A lot of us take prescription drugs, and price is a significant factor," Rutgers-Camden law professor Michael Carrier said. "The price difference between a brand-name drug and a generic can be astronomical." Drugmakers say the settlements can bring generics to consumers years earlier than the drugs would arrive if the cases were litigated.
Democrats led by Senate Budget Committee Chairwoman Patty Murray, D-Wash., introduced a 10-year budget plan that includes relatively smaller Medicare and Medicaid cuts. The plan challenges President Barack Obama's renewed efforts to strike a budget bargain with Republicans that includes Medicare and Social Security cuts. The Senate proposal would take $275 billion from Medicaid and Medicare instead of the $400 billion in Medicare savings the president proposed.