December 13, 2019

HOUSE DEMOCRATIC CAUCUS TASK FORCE ON AGING & FAMILIES PRAISES HOUSE PASSAGE OF LOWER DRUG COSTS NOW ACT

WASHINGTON – Following yesterday’s passage of H.R. 3, The Elijah E. Cummings Lower Drug Costs Now Act in the U.S. House of Representatives, the House Democratic Caucus Task Force on Aging & Families Co-Chairs Reps. Jan Schakowsky (D-IL), Doris Matsui (D-CA) and Conor Lamb (D-PA) along with House Democratic Caucus Chairman Hakeem Jeffries (D-NY) applauded the resounding passage of bipartisan legislation to address the skyrocketing price of prescription drugs, a cruel financial burden on older Americans and their families. 

“In this country we pay more for the same drug often manufactured in the same location than any other developed nation in the world,” said House Democratic Caucus Chairman Rep. Hakeem Jeffries (D-NY). “The sky-high cost of life-saving prescription drugs places an unreasonable financial burden on seniors and everyday folks. This transformative effort will drive down costs by allowing the federal government to use its bulk price purchasing power to lower prices for older Americans and their families on the drugs they need to live.”

“H.R. 3 is a win for seniors and all consumers across the United States. Big Pharma’s price gouging has forced Medicare Part D beneficiaries to spend over $30 billion in out-of-pocket costs each year. The Congressional Budget Office (CBO) estimated that drug price negotiation through H.R. 3 would slash those costs and save the federal government $456 billion,” said Task Force on Aging & Families Co-Chair Rep. Jan Schakowsky (D-IL). “This is an incredible sum that we will use to finally offer vision, dental, hearing coverage to seniors and to strengthen the Medicare program’s coverage of necessary procedures and medical treatment like compression therapy for lymphedema patients.”

“In the United States, 9 in 10 seniors take a prescription drug, and on average, they pay nearly four times more than people in other countries for the same drugs. It is unacceptable,”said Co-Chair Rep. Doris Matsui (D-CA). “Throughout the Sacramento region, I met with Medicare beneficiaries and families with private insurance plans. They told me about the choices they are forced to make when facing high prices – rationing medications, choosing between groceries or prescriptions, or just going without. With the Lower Drug Costs Now Act, we will bring down prescription drug costs for all consumers – Medicare beneficiaries and Sacramentans with private insurance alike.” 

“No one should have to choose between taking lifesaving medicine and paying for food. Yet we know that seniors and families are faced with that decision every day because of the high cost of prescriptions,” said Co-Chair Rep. Conor Lamb (D-PA). “H.R. 3 will dramatically reduce drug costs, while also adding important vision, dental and hearing benefits to Medicare.”

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