Reconciliation Bill
With Congress on recess this week, there have been no new updates on the status of the reconciliation legislation. For a good summary of what’s in the bill please see Katie Keith’s write up here. Some key activities to keep an eye on in the next few weeks: 1) Release of CBO score that will capture the integrated effects of the House Bill; 2) Senate discussions on what key changes to make, and 3) Any hints on delays. Currently the Senate is aiming to pass a bill before the July 4th recess, which would indicate a final bill being passed in late July or August.
Most Tariffs Halted
The US Court of International Trade ruled that the vast majority of tariffs imposed by President Trump violated US law and therefore would be suspended. These tariffs include the reciprocal tariffs as well tariffs on Mexican, Canadian, and Chinese goods. Other tariffs on steel, automobiles, and aluminum remain in effect. The Justice Department announced it would be appealing the ruling. It’s unclear on how the ruling would affect potential prescription drug tariffs.
RFK Jr. Changes Covid Vaccine Schedule
HHS Secretary Robert F Kennedy Jr. announced that the covid vaccine would no longer be recommended for healthy children and pregnant women. The decision gives commercial insurers flexibility as to whether to cover at no cost the vaccine for the changed population. It also raises further doubts if a Covid booster shot will be available this fall.
