How a billionaire couple greased the skids for Nancy Pelosi’s drug pricing bill
WASHINGTON — When House Democrats pass legislation next month that would slash prescription drug spending to the tune of $1 trillion, they’ll have John and Laura Arnold to thank.
The Texas billionaires, who in recent years have used their wealth to turbocharge America’s drug pricing debate, have brought their advocacy to a peak as Congress edges closer to enacting drug-price reforms. Last month, commercials cut by an Arnolds-backed political group aired on network television during the World Series. In September, a prominent former lawmaker contracted by the couple’s advocacy arm vocally endorsed House Speaker Nancy Pelosi’s marquee drug pricing legislation. And in 2019 alone, at least eight researchers and advocates funded by the Arnolds have testified on Capitol Hill, urging lawmakers to move forward with legislation to slash the cost of prescription drugs.
