Under Speaker Pelosi’s Leadership, House Democrats Prepare to Pass Historic Legislation to Lower Drug Prices and Expand Medicare
Washington, DC — As the Elijah E. Cummings Lower Drug Costs Now Act (H.R. 3) works its way through the House of Representatives this week, Protect Our Care Executive Director Brad Woodhouse issued the following statement:
“Under the leadership of Speaker Pelosi, House Democrats this week are poised to pass groundbreaking legislation that will lower drug costs for the American people, stand up to Big Pharma and make historic new investments in Medicare. This bill includes the most comprehensive drug pricing reform in American history and the largest expansion to Medicare benefits in decades. For years Democrats have fought to give Medicare the power to negotiate for lower drug prices and to expand Medicare benefits to include vision, dental, and hearing and this bill does both.
“Unfortunately, Republicans remain in the pockets of the drug industry and their lobbyists, and continue to oppose giving Medicare the power to negotiate for lower prices. There is no tool more popular and more effective in lowering costs for the American people, which is why Big Pharma is fighting so hard to oppose H.R. 3 and it’s why any Republican-sponsored legislation that does not give Medicare that power is unacceptable.”
BACKGROUND:
How The Elijah E. Cummings Lower Drug Costs Now Act Reins In Prescription Drug Costs:
- The plan gives Medicare the power to negotiate with drug companies for lower drug prices.
- Not only will those on Medicare benefit from these savings, but the lower prices would apply to anyone purchasing drugs no matter how they are insured. Prices would go down for those who get insurance from employers and those who buy it directly from insurance companies. Whether you’re a child with asthma, a teen with diabetes or a young parent with a rare illness, this bill will bring drug prices down for everyone.
- This plan will stop unjustified price gouging for thousands of medications and require drug companies to lower their prices or pay a penalty.
- Drug companies would be penalized if they keep the system rigged and their prices high.
- Independent analysts have confirmed this bill reduces prescription costs for patients by up to 55% and saves taxpayers $500 billion.
- These savings will be used for a historic expansion of Medicare benefits so it covers hearing, vision, and dental care for the first time.
Protect Our Care’s ongoing work to promote the Elijah E. Cummings Lower Drug Costs Now Act (H.R. 3) includes hosting more than 40 events, press calls, and roundtables in 14 states plus the District of Columbia, placing op-eds and letters to the editor around the country, releasing polling showing broad bipartisan support for major provisions of the bill and $2 million on digital and connected TV advertising in 20 targeted congressional districts.