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US Capitol Capsule: PhRMA hopes Part D savings will be muscle against 'Super Congress' cuts

This article was originally published in Scrip

Executive Summary

Although the legislation enacted by President Barack Obama last week to raise the US debt ceiling was not enough to stop Standard & Poor's from downgrading the nation's credit rating from AAA to AA+ on 5 August, Medicare beneficiaries and providers, including the drug industry, can breathe easy, for the time being, that the programme will not be hit with any immediate cutbacks as part of the bill's initial $900 billion in discretionary spending reductions (scripintelligence, 3 August 2011 ).

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