We applaud the House Oversight Committee for its three-year investigation, which lays out in detail how Big Pharma’s profit-driven practices are making it harder for families nationwide to afford their prescription drugs, especially in the midst of an ongoing global pandemic.
Lowering prescription drug prices is one of the most immediate and significant ways we can help families currently struggling with high costs. President Biden’s focus on lowering costs for seniors, people who rely on insulin, and working families is critically important to making sure the Build Back Better Act passes quickly.
The House’s passage of the Build Back Better Act is a significant first step toward breaking up Pharma’s monopoly power over prices and making medicines more affordable for millions.
It is absolutely ridiculous that at the same time Big Pharma is spending literally hundreds of millions of dollars to try and stop lawmakers from lowering prescription drug prices for families, they’re also raising prices of the most expensive drugs in the U.S. to inflate profits.
Reports that Democrats in Congress have stepped back from the legislative and political abyss by deciding to include prescription drug reform in the Build Back Better plan is welcome news. Not only has poll after poll shown that this is a top concern for voters, but Democrats have been campaigning and winning on this issue for years.
While some parts of the Build Back Better framework may be historic, without meaningful prescription drug reform that enables the federal government to negotiate lower prices we cannot truly build back better as a nation.
Congress is debating legislation right now that would lower drug prices, cap out-of-pocket costs and save American taxpayers hundreds of billions of dollars over the next decade.
