The CBO estimates that importing prescription drugs from Canada, etc. as proposed in Sen Sanders legislation would save about $7 billion over ten years.
That is before any possible consequences like the impact on research and development or the fact other governments place caps on drug prices that are subsidized by the US or the impact on supplies in Canada if exports skyrocketed and Canada’s reaction to all that.
But no matter $1 billion a year in (I know that’s more than $7 billion/10, but different estimates) savings is a lot of money, right? Actually it’s less than three tenths of one percent of what the US spends on prescription drugs. 3/10 of 1%. That’s equal to about $4.50 per year for each of the Americans taking a prescription drug.
How much of an impact would a 3/10% raise have on your living standards?🤓