Study: Obama Jobs Bill Will Kill Pharma Jobs

Friday, 21 Oct 2011 03:59 PM

  Comment  |
   Contact  |
  Print   |
    A   A  
  Copy Shortlink
President Barack Obama’s jobs bill could lead to 238,000 jobs being slashed in the pharmaceutical industry by 2021, according to a new study, reports CNSNews.com.

The president’s American Jobs Act would require drug makers to pay the feds billions of dollars in rebates in exchange for their drugs to be distributed to lower-income Medicare recipients, according to the study by the conservative American Action Forum.

That would save the government $135 million over a decade, with pharmaceutical firms shouldering much of the burden, says the group.

“At a minimum, these additional rebates would constitute a direct, dollar-for-dollar reduction in revenue to the pharmaceutical industry,” the study reads.

"The president and liberals in Congress are pushing proposals they claim would stimulate our economy, but would actually directly destroy American jobs," said Forum director Douglas Holtz-Eakin, former head of the Congressional Budget Office.

"Mandatory Part D drug rebates would put people out of work, increase costs for seniors and privately insured patients, and slow research and development for new drugs."



© 2014 Newsmax. All rights reserved.

  Comment  |
   Contact  |
  Print   |
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Boehner's Christmas Carol Celebrates a GOP Congress

Thursday, 18 Dec 2014 23:15 PM

Republican House Speaker John Boehner put his own political spin on "a Christmas reading" on his YouTube page Thursday,  . . .

Dershowitz: Hollywood Should Have Followed Rushdie Example

Thursday, 18 Dec 2014 22:29 PM

Hollywood should have rallied around Sony Pictures and released "The Interview" jointly online, says Harvard law profess . . .

Army Pulls ROTC Job Posting Requiring Christian Candidates

Thursday, 18 Dec 2014 22:18 PM

The Army has pulled a job posting at an Illinois religious college that required leaders of its ROTC program to be Chris . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved