Pallone Praises House Passage of Lower Drug Costs Now Act
Energy and Commerce Chairman Frank Pallone, Jr. (D-NJ) released the following statement today after the House of Representatives voted 230-192 in favor of passing H.R. 3, the Elijah E. Cummings Lower Drug Costs Now Act. Pallone introduced the landmark legislation earlier this year, which now advances to the Senate for consideration.
“Today, Democrats followed through on our promise to the American people to make prescription drugs more affordable. The historic Lower Drug Costs Now Act will empower Medicare to negotiate drug prices for the first time in the history of the program and makes those prices available to all Americans with insurance. The bill also reverses years of unfair price hikes and caps seniors’ out-of-pocket costs on prescription medications at $2,000 per year. This legislation will dramatically rein in costs and puts an end to the price gouging that’s been taking place at the pharmacy counter for years.
“We then take the savings and reinvest it back into the American people with the most transformative improvements to Medicare since the program’s creation. Under H.R. 3, seniors will have access to vision, hearing and dental coverage through Medicare for the first time. We also invest in critical research to find new cures and treatments, as well as providing much-needed funding to combat the opioid crisis.
“The American people are fed up with paying three, four or ten times more than people in other countries for the exact same drug. I’m proud that the House took decisive action today to finally level the playing field and provide real relief to the American people. I now hope Senator McConnell will follow through on President Trump’s repeated promises to ‘negotiate like crazy’ and take up this bill. We cannot afford to wait. It’s time to negotiate a better deal for the American people.”