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Senate advances bill to cut the cost of prescriptions

A controversial new bill designed to reduce drug prices is moving forward in the Senate. In a 19-to-9 vote, the Senate finance committee voted to advance the bill. The sponsors say it will bring down prices, by capping the amount people on medicare can pay in a year to just $31,000. It would also force drug companies to pay rebates to Medicare if they raise prices above the rate of inflation. Yahoo Finance’s YFi AM discusses.