The Inflation Reduction Act gives Medicare historic new powers to limit prescription drug prices. But the pharmaceutical industry is already lobbying to dull their impact.

The House is set to vote Friday on the Inflation Reduction Act, which passed in the Senate on Sunday. Democrats have been touting the $430 billion climate, tax and healthcare bill as "life changing legislation," but with Republicans having voted to strip out any healthcare provisions not covered under Medicare, the question becomes whether the bill will have a ripple effect on drug prices for the general population.