The new Trump administration plans to spend nearly $6 billion on a plan to roll back regulations designed to combat the opioid epidemic.
But it’s unlikely to generate much economic growth.
While the administration plans a plan that would cut spending by $200 billion over 10 years, it will also require companies to pay higher taxes, impose new regulations on existing businesses, and impose higher tariffs on imports.
That would increase the burden on businesses and raise costs for the American public.
The White House’s plan also includes $1.4 billion for drug and device manufacturers to invest in research and development, a plan designed to keep drug makers focused on new products and to improve the supply chain.
But the plan includes no money to help states or states’ governments fund research, so states and the private sector will likely struggle to find the money to do their own research.
The administration also plans to rollback other key Obama administration efforts to curb drug prices, including a rule requiring pharmaceutical companies to cover prescription drugs at no extra cost to consumers.
The new plan will also impose new requirements on the drug industry to treat the drug-overdose deaths that have risen by 70 percent over the past two years.
The proposed Trump-style approach to tackling the opioid crisis would cost $5 billion over a decade and would likely cause more Americans to die from the drug than die from other causes.
Trump has promised to slash federal spending by more than $100 billion over the next decade.
His plan to reduce spending would cost a quarter of the federal budget.