Senators release bipartisan drug pricing bill

The Senate is ready to start moving forward with a bipartisan bill to lower the cost of prescription drugs, after Sens. Chuck Grassley (R-Iowa) and Ron Wyden (D-Ore.) released a detailed outline of the proposal this morning. The Finance Committee will debate the bill Thursday.

What's next: The Senate package would redesign Medicare's drug benefit and allow new payment models in Medicaid, among other changes. And it puts drug prices squarely at the center of Congress' fall agenda: House Speaker Nancy Pelosi's top health care aide said yesterday that House Democrats will introduce their own bill after the August recess.