President Biden’s budget proposal includes ambitious measures seeking to bring down health care costs, but the divided government poses a steep challenge to these proposals, and lawmakers have yet to indicate where they’re willing to come together. Biden’s budget proposes increasing discretionary funding for the Department of Health and Human Services (HHS) by $14.8 billion … Read more
French pharmaceutical company Sanofi, one of the top three insulin manufacturers for the U.S., announced on Thursday it would be cutting the list price for its most prescribed insulin product Lantus by 78 percent, joining fellow major insulin manufacturers in drastically minimizing the prices of some of their insulin products. Along with cutting down the … Read more
The Biden administration wants TikTok’s Chinese parent company to divest itself of the popular social media platform, or it could face a possible nationwide ban, TikTok confirmed to CBS News on Wednesday. The Wall Street Journal said the Committee on Foreign Investment in the U.S. (CFIUS) had recently made the divestment request, and a TikTok spokesperson … Read more
The Biden administration has released its first list of nearly 30 drugs covered by Medicare that will be subject to the penalties included in the Inflation Reduction Act, because their prices increased faster than the rate of inflation. Under the act, drug manufacturers are required to pay rebates to the federal government if the price … Read more
Former FDIC chair Sheila Bair on turmoil in the banking sector – CBS News Watch CBS News Former FDIC chair Sheila Bair joins John Dickerson on “Prime Time” to discuss the recent failure of Silicon Valley Bank and whether Americans need to be concerned about broader instability in the banking system. Be the first to … Read more
The Biden administration is reportedly demanding that TikTok be sold by its Chinese owners or risk facing a ban across the U.S. The move is an escalation in federal officials’ efforts to address national security concerns about the social media company’s owner, ByteDance, which is headquartered in Beijing. TikTok, a popular short-form video app, is … Read more
President Biden is expected to prohibit oil and gas leasing across the entirety of the United States’ territory in the Arctic Ocean, an administration official confirmed on Sunday. Biden intends to announce the new declaration on Monday, the official told CBS News. It will come during the first day of his upcoming trip to California, … Read more
By Jonel Aleccia | Associated Press Shoppers could soon find it easier to tell if those grocery store steaks or pork chops were really “Made in the USA.” Federal agriculture officials on Monday released new requirements that would allow labels on meat, poultry or eggs to use that phrase — or “Product of USA” — … Read more
After Walgreens announced it would no longer sell abortion pills by mail in 20 conservative-led states, the White House on Friday called it “dangerous and unacceptable” for Republicans to target pharmacies for offering them. Press secretary Karine Jean-Pierre did not explicitly weigh in on Walgreens’s move, but more broadly pushed back on the effort among Republican … Read more
Congress weighs nationwide ban of TikTok – CBS News Watch CBS News U.S. lawmakers are proposing a bill that would ban TikTok nationwide, citing concerns over national security. CBS News congressional correspondent Nikole Killion joined CBS News to discuss. Be the first to know Get browser notifications for breaking news, live events, and exclusive reporting. … Read more