WASHINGTON - President Joe Biden on Thursday will call on Congress to act on legislation gearing toward lowering prescription drug prices, including allowing Medicare to negotiate the prices it pays for drugs and imposing a penalty on drug companies that raise their prices faster than inflation.In his speech, Biden is set to "lay out his vision for reducing the high cost of prescription drugs" as part of his Build Back Better agenda, the White House said.In a fact sheet, the White House said Medicare should be able to "negotiate the price for a subset of expensive drugs that don’t face any competition in the market." Medicare negotiators would be given a framework for what constitutes a fair price for each drug — and there should be.