Governor signs sweeping package targeting drug prices, housing, and energy costs

Governor Abigail Spanberger has signed a wide-ranging slate of legislation aimed at lowering costs for Virginians, with a focus on prescription drugs, housing availability, and energy affordability.

The measures, approved during the most recent Democrat controlled legislative session, include efforts to regulate pharmacy benefit managers, expand housing development, and shield ratepayers from rising utility costs. The governor described the package as a response to growing concerns about affordability across the Commonwealth.

“No Virginian should ever have to choose between seeing their doctor, paying their rent or mortgage, or keeping their lights on,” Spanberger said in a statement.

Among the healthcare-related laws, one targets so-called pharmacy benefit managers, or PBMs, which critics say contribute to higher prescription drug prices. Additional legislation seeks to expand the healthcare workforce, eliminate certain insurance premium fees, and improve access to preventive care.

On housing, lawmakers approved measures to support the construction of affordable housing through state bonding authority, expand a pilot eviction reduction program, and make it easier to develop manufactured homes. Supporters say the steps could help address ongoing housing shortages, though the long-term impact will depend on implementation and market conditions.

Energy-related legislation includes provisions allowing large energy users to invest in infrastructure without shifting costs to other ratepayers, as well as incentives for emerging technologies such as nuclear and fusion energy. Other measures aim to improve grid reliability and streamline permitting for transmission projects.

The legislative package also includes targeted relief measures, such as expanding vehicle registration fee exemptions for disabled veterans and establishing a free tax filing program for residents.

Many of the bills passed with bipartisan support, and several received unanimous approval in the General Assembly. However, as with most large policy packages, the effectiveness of the changes will likely be evaluated over time as agencies and industries adapt to the new requirements.