According to a calculation by the Associated Press, the disputed “bathroom bill”–HB2–would cost North Carolina about $3.76 billion in lost business over twelve years. Over the past year, several companies have left the state. For example PayPal, which pulled out of North Carolina last year, would have contributed an estimated $2.66 billion to the local economy.

Artists like Bruce Springsteen and Ringo Starr have cancelled concerts in North Carolina and the NCAA is also avoiding the state–it is about to announce the locations of various championships through 2022 and has said that North Carolina will not be included as long as the controversial law is in place. This could result in losses of hundreds of millions more.

‘Bathroom bill’ to cost North Carolina $3.76B, AP analysis finds https://t.co/3vyxKpSHJT #HB2 #LGBTQ pic.twitter.com/tIKfCz4DNm

— NBC Out (@NBCOUT) March 27, 2017

The bathroom bill prohibits transgender people from using the public bathroom that corresponds with the gender they identify with. It used the argument that allowing transgender women–who were born male–into the women’s bathroom, would result in an increase in sexual assaults. As there is absolutely no evidence for this, and male predators don’t typically identify as women or care whether they are allowed in the women’s bathroom or not before attacking, that argument understandably caused a lot of criticism and outrage.

Former Governor Pat McCrory, who was very supportive of the bill, failed to win re-election in November and revealed in a recent interview that he has had trouble finding a new job. “People are reluctant to hire me, because, ‘oh my gosh, he’s a bigot’–which is the last thing I am,” he said.

-Gov signs anti-trans bathroom bill
-State loses $600M, reputation hurt
-Gov voted out, can’t get job https://t.co/ByEk5EWbTs #ncpol #hb2 pic.twitter.com/yPpGVodCGq

— Alex Kotch (@alexkotch) March 13, 2017

The AP put together its analysis through interviews and public records, but also said that the numbers probably are an underestimation. The data only includes businesses that the AP could confirm were relocating or canceling their business in the state because of the bill. That means there could be more that the AP couldn’t confirm and therefore didn’t include. There were also likely cancelled endeavors from other companies that the AP had no way to measure.

“Companies are moving to other places because they don’t face an issue that they face here,” said Brian Moynihan, CEO of Bank of America, which is based in North Carolina. He said he has talked to many business leaders who had spoken out about their choice to relocate, but that others are probably moving quietly. McCrory’s statement after signing the bill into law that it wouldn’t affect the state’s position as “one of the top states to do business in the country” seems to have been proven wrong.

But supporters of the bill have not admitted to any defeat; rather they are saying that the costs are worth it, as long as it keeps sexual predators out of women’s bathrooms, which is the main argument in favor of the bill. Lt. Gov. Dan Forest accused the media of creating a false image of the economic impact of the bill. “The effect is minimal to the state. Our economy is doing well. Don’t be fooled by the media,” he said when addressing Texas legislators who are considering adopting a similar law.

Emma Von Zeipel

Emma Von Zeipel is a staff writer at Law Street Media. She is originally from one of the islands of Stockholm, Sweden. After working for Democratic Voice of Burma in Thailand, she ended up in New York City. She has a BA in journalism from Stockholm University and is passionate about human rights, good books, horses, and European chocolate. Contact Emma at EVonZeipel@LawStreetMedia.com.

The post Looks Like the Bathroom Bill Will Cost North Carolina Billions appeared first on Law Street.

It’s absolutely no secret that college is incredibly expensive. One of the biggest complaints about college costs is how exorbitant the prices of textbooks have become. But, if Senators Al Franken (D-Minnesota), Angus King (I-Maine) and Dick Durbin (D-Illinois) get their way, that will be changing soon. The three legislators just introduced a bill, the Affordable College Textbook Act, that will make some online textbooks free and ultimately help to cut textbook costs for college students.

An average student in 2013 spent roughly $1200 on books per year, or up to $1250 if just private universities are taken into account. The prices of textbooks have skyrocketed in recent years–increasing an average of 82 percent in the last 10 years. There was an 812 percent price jump between 1978-2013. Experts attribute the shocking jump in prices to a lack of competition in the market, but these high costs are certainly detrimental to students. Roughly 70 percent of students have foregone certain textbooks in an attempt to save money, even if they realize that doing so may affect their academic success. It makes a lot of sense–if you’re desperate to save money, it’s a lot easier to forgo textbooks than housing or food.

The bill was introduced last week and, if successful, will provide grants to institutions of higher education. Those institutions will then work on programs for “open” textbooks–essentially textbooks that are online and freely accessible to students. Franken explained why this program would make sense based on his experience in Minnesota, stating:

At The University of Minnesota they’ve started a program of open sourced textbooks and that is basically paying professors there to write textbooks and put them online and so that professors and teachers can use and students can use that material instead of a $150 textbook.

Durbin also explained his motivations, citing similar success in Illinois:

As I said, we did this at the University of Illinois. Now there are certain rules of the game. If you’re going to have an open text book, it really has to be open, available to everyone, for the public, and what were finding is there’s a lot of good response to it and I think its catching on.

This, overall, is a smart suggestion that alleviates a real problem for students. A corresponding bill has been introduced in the House by Representative Rubén Hinojosa (D-Texas) and Jared Polis (D-Colorado). But, it has a very long way to go before it becomes anywhere near a viable piece of legislation, and given the current Congressional climate, probably doesn’t have a good shot of being enacted. That being said, as more pressure is exerted on our government to address the rising costs of college expenses, these kind of common sense and intelligent proposals will become key. While the bill may not make it through this time, be on the lookout for similar proposals at the state and federal level moving forward.

Anneliese Mahoney

Anneliese Mahoney is Managing Editor at Law Street and a Connecticut transplant to Washington D.C. She has a Bachelor’s degree in International Affairs from the George Washington University, and a passion for law, politics, and social issues. Contact Anneliese at amahoney@LawStreetMedia.com.

The post Will the Senate Take Action to Combat Rising Textbook Costs? appeared first on Law Street.

If you are going to a pharmacy for a particular drug, you’re often offered a choice — do you want the name brand or the cheaper generic? Generics have long been lauded for their ability to provide the same benefits to patients while also offering a less hefty price tag; however, recently generics have been getting more expensive, and people are wondering why. Congress announced this week that it’s going to launch an investigation into why the price of generic drugs is rising.

When a drug company develops a particular drug, it gets to hold the patent for approximately twenty years (some nations or jurisdictions give protections for a bit longer). During that period, that company is the only one that can produce that particular drug. After the patent expires, however, other companies can make a “generic” version of the drug.

There are certain regulations created by the Food and Drug Administration (FDA) to make sure that the generic drugs are able to be distributed. The FDA requires that a generic drug has the same active ingredients as the one that it is imitating, but not necessarily the same inactive ingredients (such as coloring). A generic has to perform the same function as the name brand, and it must of course meet the same health and safety standards.

Generic drugs tend to be less expensive than the name brands — and given the high cost of American health care, offer great and affordable options for consumers. However, it seems like the cost of these drugs is increasing. For example, the patent for Ambien, a popular sleep aid, recently expired. Now it’s a lot easier to get a generic version of Ambien for a cheaper price, and more people are able to get the product they need.

A study completed in August discovered that some generic prices have been dropping, while others have been rising almost exponentially. According to the Wall Street Journal:

The prices paid by pharmacies more than doubled for one out of 11 generics. And in a few cases – notably, the tetracycline antibiotic and the captopril blood pressure pill – the cost increases not only exceeded 1,000%, but topped 17,000%…. Yes, 17,000%.

Doctors have reported how troubling this kind of price increase can be in certain generic drugs for the patients who rely on them. Some patients who are on fixed incomes, such as those on Medicaid, may not be able to pay for the non-covered costs of the drugs if prices skyrocket that much. They may try to skip their prescriptions in an attempt to make ends meet. Not only is this obviously problematic for the patients themselves, but it also leads to more emergency room visits and a less healthy society in general.

That brings us to the investigation that Congress is evidently undertaking to try to figure out why exactly these generic prices are climbing so sharply and how to reverse the trend. The analysis is being pushed by Senator Bernie Sanders of Vermont and Representative Elijah Cummings of Maryland. We can all say a lot about the inadequacies of Congress, but this is a good move on its part. It’s really important that we get the prices of generics under control, because price increases like this are almost always passed directly to the consumer. With as many healthcare problems as we have, this is an issue that needs to be nipped in the bud as soon as possible.

—

Anneliese Mahoney (@AMahoney8672) is Lead Editor at Law Street and a Connecticut transplant to Washington D.C. She has a Bachelor’s degree in International Affairs from the George Washington University, and a passion for law, politics, and social issues. Contact Anneliese at amahoney@LawStreetMedia.com.

Featured image courtesy of [Chris Potter/Stockmonkeys.com via Flickr]

Anneliese Mahoney

Anneliese Mahoney is Managing Editor at Law Street and a Connecticut transplant to Washington D.C. She has a Bachelor’s degree in International Affairs from the George Washington University, and a passion for law, politics, and social issues. Contact Anneliese at amahoney@LawStreetMedia.com.

The post Congress to Investigate Rising Generic Drug Costs appeared first on Law Street.