Bush vows veto on Medicare drug price bill

? President Bush vowed Thursday to veto Democratic-drafted legislation requiring the government to negotiate with drug companies for lower prices under Medicare.

The House is to debate and vote today on the legislation, which is one of a handful of priority items for Democrats who gained control of Congress in last fall’s elections.

Several Democrats campaigned last fall as critics of the year-old program that offers prescription drug coverage under Medicare, saying it tilted toward profits for the pharmaceutical and insurance industries.

Currently, private drug plans negotiate how much they’ll pay for the medicine their customers take. The legislation would order the Department of Health and Human Services to step in.

Democrats have said they would use the savings produced by the negotiations to reduce a coverage gap that is common in many plans.