US Elections are almost 14 months away and the race for the candidature has started already with several leading Republicans and Democrats announcing themselves in the Race for Re-election. But to secure party nominations, they have to spend hundreds of thousands of dollars to the campaign. This money does not come easy. Major companies and conglomerates back these candidates by pitching in a lot of money so that the candidate favoring their interests get nominated and voted into power.
In the first 6 months of this year alone, Pharmaceutical Companies and Trade Groups have given the 30 senators expected to run for re-election nearly $845,000. Lowering drug prices is one of the rare causes that has united Democrats and Republicans, and at least one proposal that would change the way the industry does business could get a vote in Congress this year. One of the most promising and aggressive updates would cap drug prices under Medicare so they do not outpace inflation.
The main beneficiaries of these donations have been Republicans as they are a little hesitant in capping prices for drug manufacturers. These companies are lobbying several politicians behind them so that when the time comes for voting, these senators will vote in favor of their interests. This way, the drug companies and the politicians both benefit from this process. These companies aren’t paying a bribe. They are only supporting those politicians who have similar interests all while saying that they are donating to Election Funds.