Doyle Calls for Lower Prescription Drug Prices
Washington, DC – December 11, 2019 – U.S. Representative Mike Doyle (PA-18) gave the following remarks today on the House Floor in favor of a bill to lower Americans’ prescription drug prices. The bill, H.R. 3, is scheduled for a vote in the House tomorrow.
Madam Speaker, millions of Americans are suffering from skyrocketing prescription drug prices. They have to choose between medicine and food - or rent - or utility bills. People are actually dying because they’ve been forced to skip or reduce doses.
Prices aren’t soaring because of the cost of developing prescription drugs. Some of these drugs are decades old. No, prices are soaring because drug makers are jacking up prices wherever and whenever they can to maximize their profits. They can do that because the U.S. is the only country in the world that subsidizes research on new drugs and then refuses to negotiate with drug makers for lower prices. This is insane. Americans shouldn’t be dying because drug companies want bigger profits.
I’m supporting HR 3 because it will allow Medicare to negotiate drug prices, cap annual price increases, and set out-of-pocket maximums for seniors. It’s way past time Congress allowed Medicare to negotiate for lower drug prices. I urge my colleagues to vote in favor of HR 3 to lower drug costs now.
Click here to watch the speech.
H.R. 3, the Elijah E. Cummings Lower Drug Costs Now Act would:
- Give Medicare the power to negotiate directly with the drug companies for lower drug prices;
- Make those lower drug prices available to Americans with private insurance, not just Medicare beneficiaries;
- Prohibit drug companies from charging Americans significantly more than they charge other countries for the same drugs;
- Create a new, $2,000 out-of-pocket limit on prescription drug costs for Medicare Part D enrollees;
- Prohibit drug companies from increasing prices beyond inflation every year;
- Use the savings from negotiating lower drug prices:
- for more research to find new breakthrough treatments and cures;
- to expand Medicare coverage to include vision, hearing, and dental benefits; and
- to combat the opioid epidemic and provide funding to states most heavily impacted by the crisis.