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Democrats reach deal to lower prescription drug costs in $1.75T spending bill

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WASHINGTON - Democrats reached an agreement on a plan to lower prescription drug costs for most older people, capping out-of-pocket Medicare costs at $2,000 and reducing the price of insulin, salvaging a campaign promise as part of President Joe Biden's $1.75 trillion domestic policy proposal.Senate Majority Leader Chuck Schumer on Tuesday announced the deal on one of the few remaining provisions that needed to be resolved in Biden's big package as the party moves closer to wrapping up negotiations.

Schumer acknowledged it's not as sweeping as Democrats had hoped for, but a compromise struck with one key holdout Democrat, Sen.

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