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Mayor Pete Buttigieg. Scott Olson/Getty Images

Pete Buttigieg released Tuesday his plan to reduce prescription drug prices, which includes many of the liberal proposals that have become the new Democratic normal.

Between the lines: This plan puts Buttigieg somewhere in the leftward middle of the top-tier candidates on drug prices. The field — and the party as a whole — is much more aggressive on the subject than Democrats have been in the past.

How it works: Many of Buttigieg's proposals mirror those included in House Speaker Nancy Pelosi's drug pricing plan.

  • Like Pelosi, Buttigieg would allow the federal government to negotiate drug prices for Medicare and then make those negotiated prices available to private insurers.
  • Drug companies would be severely penalized if they don't negotiate.
  • He would base the negotiations on international prices, the therapeutic gain offered by the drug, the cost of bringing it to market, and the cost of treating the condition it addresses.

Yes, but: Buttigieg goes further than House Democrats, although other 2020 candidates have endorsed similar policies.

  • Most notably, he would allow the federal government to revoke the intellectual property rights of drug companies who have refused to negotiate or are still abusively pricing.

Sen. Elizabeth Warren is still most liberal on the subject, as she'd allow the government to manufacture some generics.

  • While Buttigieg recently told AARP that he "potentially" supports the approach, it's not included in yesterday's white paper.

Go deeper: How Democrats want to limit drug prices

Go deeper

Austria approves COVID vaccine mandate for adults

A vaccination center installed at the Barbara Chapel of St Stephen's Cathedral in Vienna, Austria. Photo: Alex Halada/AFP via Getty Images

Austria's lower house of parliament voted on Thursday in favor of making COVID-19 vaccinations compulsory for most adults from next month.

Why it matters: The bill is expected to soon pass the upper house and be signed by President Alexander Van der Bellen in order for the law to take effect Feb. 1, per Reuters. It'd make Austria the first EU nation to impose such a sweeping mandate.

Hope King, author of Closer
Updated 3 hours ago - Economy & Business

Peloton pumps its brakes

Data: FactSet; Chart: Axios Visuals

Peloton’s popularity is falling as swiftly as it shot up.

Why it matters: Not all pandemic habits stick around. Peloton's trajectory over the past two years exemplifies how challenging it's been for companies to gauge shifts in consumer demand — particularly in sectors heavily altered by the pandemic.

Mitch McConnell's remarks on Black voters raise ire

Senate Minority Leader Mitch McConnell during a Capitol Hill news conference earlier this year. Photo: Anna Moneymaker/Getty Images

Senate Minority Leader Mitch McConnell (R-Ky.) has been widely criticized for comments he made this week about Black American voters.

Driving the news: When asked by a reporter Wednesday about concerns among voters of color, McConnell said "the concern is misplaced, because if you look at the statistics, Black American voters are voting in just as high a percentage as Americans."