Democrats reach drug price deal, Biden upbeat on Manchin

By LISA MASCARO and FARNOUSH AMIRI
Associated Press

WASHINGTON (AP) — Democrats say they have sealed a deal to lower pharmaceutical drug costs for most older Americans as part of President Joe Biden’s sweeping $1.75 trillion domestic proposal. The plan would cap out-of-pocket Medicare costs to $2,000 and lower insulin prices, according to Senate Majority Leader Chuck Schumer, who announced it Tuesday. Another deal is emerging to do away with the $10,000 limit on state and local tax deductions that hits high-tax states. Democrats are hoping to finish a final draft of the overall package soon, with House votes possible Thursday. Biden said in overseas remarks he believes Democratic Sen. Joe Manchin will vote for it.