President Donald Trump welcomed a drug pricing proposal unveiled last week by House Speaker Nancy Pelosi, D-Calif., that would permit HHS to negotiate drug prices for up to 250 drugs per year, and he said he likes legislation proposed in the Senate by Chuck Grassley, R-Iowa, and Ron Wyden, D-Ore. Trump urged lawmakers to pass a bill "in a bipartisan way," but Senate Majority Leader Mitch McConnell, R-Ky., said Pelosi's bill won't be considered in the Senate because he said it involves a form of price controls.

President Donald Trump welcomed a drug-pricing proposal unveiled last week by House Speaker Nancy Pelosi, D-Calif., that would permit HHS to negotiate drug prices for up to 250 drugs per year, and he said he likes legislation proposed in the Senate by Sens. Chuck Grassley, R-Iowa, and Ron Wyden, D-Ore.. Trump urged lawmakers to pass a bill "in a bipartisan way," but Senate Majority Leader Mitch McConnell, R-Ky., said Pelosi's bill won't be considered in the Senate because he said it involves a form of price controls.

Chairman Chuck Grassley, R-Iowa, said the Senate Finance Committee is still negotiating final details of drug pricing legislation, but members are "on track to report a bill out of committee very soon." Grassley and the panel's top Democrat, Sen. Ron Wyden, D-Ore., have been working on the measure for months, but some GOP senators have expressed concern that certain provisions too closely resemble price controls.

Senate Finance Committee Chair Chuck Grassley, R-Iowa, said the panel is still working on major issues before finalizing its drug pricing legislation, which aims to lower prices in Medicaid and Medicare Part B and Part D. The panel's ranking member, Sen. Ron Wyden, D-Ore., said he and Grassley are meeting daily to discuss the proposals, which are expected to be released after the July 4 recess.