Senator Reed criticizes Trump's proposed 250% pharmaceutical tariff, warning it would raise drug prices for consumers.
Quiver AI Summary
In a recent CNBC interview, President Trump announced a plan to impose a 250 percent tariff on pharmaceuticals, impacting drug prices for U.S. consumers. He stated that the process would begin with smaller tariffs that would escalate over time to encourage domestic production. Critics, including Senator Jack Reed, argued the move would lead to skyrocketing drug costs and limit access to essential medications.
Reed condemned Trump's proposal as a "reckless threat," suggesting it lacks a coherent strategy and undermines existing tools for negotiating drug prices. He emphasized that this approach could exacerbate financial burdens on Americans already struggling with healthcare costs and hinder the progress made through the Inflation Reduction Act.
Experts have expressed concerns that such tariffs could raise prices on generic drugs and lead to potential shortages. The lack of a detailed plan from the Trump administration has left many analysts skeptical about the effectiveness and implications of this tariff strategy.
Disclaimer: This is an AI-generated summary of a press release. The model used to summarize this release may make mistakes. See the full release here.
Jack Reed Net Worth
Quiver Quantitative estimates that Jack Reed is worth $375.7K, as of August 6th, 2025. This is the 379th highest net worth in Congress, per our live estimates.
Reed has approximately $319.2K invested in publicly traded assets which Quiver is able to track live.
You can track Jack Reed's net worth on Quiver Quantitative's politician page for Reed.
Jack Reed Bill Proposals
Here are some bills which have recently been proposed by Jack Reed:
- S.2338: Strengthening Local Food Security Act of 2025
- S.1904: Ending Taxpayer Support for Big Egg Producers Act
- S.1903: A bill to prohibit changes to Medicare and Medicaid in reconciliation.
- S.1576: Stop Subsidizing Multimillion Dollar Corporate Bonuses Act
- S.1467: Homebuyers Privacy Protection Act
- S.1400: Adult Education WORKS Act
You can track bills proposed by Jack Reed on Quiver Quantitative's politician page for Reed.
Jack Reed Fundraising
Jack Reed recently disclosed $652.6K of fundraising in a Q2 FEC disclosure filed on July 15th, 2025. This was the 105th most from all Q2 reports we have seen this year. 59.9% came from individual donors.
Reed disclosed $206.1K of spending. This was the 258th most from all Q2 reports we have seen from politicians so far this year.
Reed disclosed $2.5M of cash on hand at the end of the filing period. This was the 114th most from all Q2 reports we have seen this year.
You can see the disclosure here, or track Jack Reed's fundraising on Quiver Quantitative.
