Shot/Chaser

Republicans Are Already Working to Dismantle Medicare, Medicaid, and Social Security

Today, Speaker of the House Kevin McCarthy promised Republicans would not defund Medicare and Social Security. 

But check the tape – McCarthy and other Republicans have already made it clear his MAGA House of Representatives will require slashing the Medicare and Social Security that people have earned or they will shut down the government. 

SHOT: “We will always protect Medicare and Social Security” – Kevin McCarthy [@atrupar, 1/12/23]

CHASER: NOVEMBER 2022: Kevin McCarthy Said Medicare And Social Security Cuts Could Be Part Of Debt Limit Negotiations. “Representative Kevin McCarthy of California, who is in line to be House speaker if his party wins control, told Punchbowl News last month he would not ‘predetermine’ whether Social Security and Medicare cuts would be part of debt-limit negotiations. Those comments suggested that, unlike in past negotiations, Republicans could demand future cuts to the programs in order to raise America’s borrowing limit and avoid a default on government debt. Mr. McCarthy later told CNBC that he had not brought up the programs and was committed to ‘strengthening’ them, though he did not provide details.” [New York Times, 11/2/22]

Last week, Republicans on the House Ways & Means Committee released their oversight agenda for next year, naming their top priority as investigating new policies that have made coverage under the ACA more affordable for millions of families. Once again, Republicans are showing that they are completely out of step with the American people and are seeking to use their majority to attack health care. This comes as ACA signups are surging and people are saving thousands of dollars a year on care. 

SHOT: GOP Lawmakers on the House Ways & Means Committee Release Agenda to “Investigate” Obamacare. “Illegal Expansion of Obamacare: Thanks to Obamacare, Americans are paying higher health care costs for less access, yet Democrats’ only solution is to keep expanding it, including its latest illegal rewrite. Republicans want to know how the Administration justifies these partisan decisions that make health care for American families worse.” [House Committee on Ways and Means, 11/18/22] 

CHASER: The ACA is More Affordable and Popular Than Ever Before. “Big announcement from @POTUS just now: new Open Enrollment signs ups on https://HealthCare.gov are up nearly 40% compared to the same time last year. Thanks to the Inflation Reduction Act, 4 in 5 people can find coverage for under $10.” [@SecBecerra, 11/18/22] 

Inflation Reduction Act’s Health Care Measures Drive Bill’s Widespread Popularity

SHOT: Senator Rick Scott Threatens To Force Government Shutdown Over Inflation Reduction Act If GOP Takes Control Of The Senate. “If we can get over 50 senators in the Senate, we can pass a reconciliation bill. Which, then, the Biden administration — Biden — will have to make a choice whether he wants to shut down government or fund things the proper way.” [Politico, 8/17/22] 

CHASER: Navigator Poll Shows Two In Three Americans Support The Inflation Reduction Act. “Nearly two in three independents (64%) and almost two in five Republicans support the plan (35%).” [Navigator, 8/18/22] 

CHASER: New POLITICO/Morning Consult Poll Shows Strong Public Support For Inflation Reduction Act’s Health Care Measures. “The poll found that 76 percent of respondents strongly or somewhat support placing a limit on the amount that prescription drugs can increase, while only 13 percent strongly or somewhat oppose it. The results also showed that several other pieces of the legislation are overwhelmingly popular. More than 70 percent strongly or somewhat support the law’s provisions to allow Medicare to directly negotiate some prescription drug prices and to reduce the federal deficit by $300 billion in the next decade…More than 70 percent also support the act limiting annual out-of-pocket costs for Medicare recipients to $2,000, while 15 percent oppose it.” [The Hill, 8/17/22] 

Drug companies are raising prices and trying to stop Congress from lowering the cost of prescription medication including giving Medicare the power to negotiate lower drug prices.

SHOT: “Big Pharma Has Raised Drug Prices 1,186 Times This Year, Analysis Shows.” (Common Dreams, 7/20/22)

SHOT: “Pharma wages last-ditch fight against drug pricing bill.” (Washington Post, 7/20/22) 

SHOT: “Democrats’ Drug Pricing and Medicare Plans Garner Broad Bipartisan Voter Support.” (Morning Consult, 7/13/22)

CHASER: “Democrats are full speed ahead on drug pricing bill.” (Washington Post, 7/20/22)

SHOT: Gallup Poll Finds “Surge” In Americans Struggling To Afford Health Care, With Nearly A Third Reporting They’ve Skipped Medical Care Due To Cost. “Nearly a third of Americans — triple the share since March— say they’ve skipped medical care for a health problem in the previous three months due to concerns about the cost, according to a new study from Gallup and West Health.” [CBS News, 12/14/21] 

CHASER: Because Of Build Back Better, Families Could Save Thousands Of Dollars In Health Care Costs Every Year. Build Back Better will lower premium costs, give Medicare the power to negotiate for lower drug prices, cap insulin co-pays at $35 per month, extend hearing benefits to seniors so they can afford hearing aids, and extend affordable coverage to working families in states that have rejected Medicaid expansion. 

• A 60-year-old couple with a household income of $75,000 will save $1,389 in monthly premiums—more than $16,000 in savings a year.

New reports indicate big drug companies are fighting to weaken the parts of the Build Back Better Act that deliver relief to families and give Medicare the power to negotiate for lower prescription drug prices. As Big Pharma continues its fight against Medicare negotiation, here are four big reasons why America’s families reject drug companies’ claims and are demanding action now: 

HIGH PRICES

SHOT: Drug Companies Hiked The Prices Of Nearly 1,000 Drugs In January. Drug companies started 2021 by hiking the prices of hundreds of drugs. In January of 2021, more than 900 brand name drugs experienced price increases, the highest in over a decade. GoodRX found the increases to be the “largest number of increases in years.” 

CHASER: Americans Don’t Trust Pharmaceutical Companies On Pricing. Three in four Americans do not trust drug companies to price their products fairly, with the vast majority of Americans identifying the high cost of prescription drugs to be the result of Big Pharma’s greed. 78 percent report pharmaceutical company’s profits are a major factor contributing to the soaring cost of medications.

POWER & INFLUENCE

SHOT: Pharmaceutical Industry Spent Over $250 Million Trying To Kill Medicare Negotiation. In 2021 alone, Big Pharma has spent nearly $263 million on lobbying — devoting three lobbyists to each member of congress.

CHASER: Americans Dislike Pharma’s Influence In Washington. 72 percent of Americans say the pharmaceutical industry has too much influence over the federal government.

INNOVATION LIES

SHOT: Drug Companies’ Stock Buybacks And Dividends Exceed R&D Spending. Between 2016 and 2020, 14 leading drugmakers spent $577 billion on stock buybacks and dividends—$56 billion more than what was invested in research and development over the same period. One company, Amgen, spent nearly six times more on executive pay, buybacks, and dividends than it did on research and development in 2018.

CHASER: Majority Of Americans Don’t Buy Pharma’s Innovation Argument. Roughly 70 percent of Americans are not convinced by the pharmaceutical industry’s argument that drug price negotiation will harm its ability to fund research and development.

SKY-HIGH PROFITS 

SHOT: Drug Companies Enjoy The Highest Profits Of Major Industry. Pharmaceutical companies experience profit margins nearly three times the average for the S&P 500. Between 2000 and 2018, 35 large drug companies raked in a combined revenue of $11.5 trillion with a gross profit of $8.6 trillion — far more than other large companies. Drug companies could lose $1 trillion in sales and still be the most profitable industry. 

CHASER: Americans Hold Overwhelming Negative Views Of The Pharmaceutical Industry. A 2019 Gallup poll found the pharmaceutical industry to be “the most poorly regarded industry in Americans’ eyes.” The critique of Big Pharma included their seemingly never ending price increases, massive lobbying influence, and role in the opioid crisis, proving distrust of the pharmaceutical industry is far reaching.

SHOT: In 2021, CBO says Democrats’ Build Back Better Act strengthens Medicaid and Medicare, extends coverage and gives financial support to millions. 

CHASER: In 2017, CBO says  GOP’s ACA repeal bill would result in 23 million losing coverage and millions of people with pre-existing conditions losing protections.