Congressional Effort to Lower Prescription Drug Costs Must Be Bipartisan
Senate Finance Committee Chairman Chuck Grassley (R-Iowa) today released the following statement regarding the Congressional Budget Office’s (CBO) analysis
of Speaker Nancy Pelosi’s (D-Calif.) legislation to lower prescription drug prices.
“I’m glad the House of Representative is working on prescription drug legislation. Lowering costs for patients and taxpayers while protecting American medical innovation should be the goal. Any bill must also be bipartisan so it can pass both chambers of Congress and be signed into law by President Trump. As chairman of the Senate Finance Committee, the legislation I authored with Ranking Member Wyden strikes that balance and would achieve real progress for Americans. To date, it’s the only significant, bipartisan legislation to lower prescription drug prices that’s passed a congressional committee. I urge my colleagues in the House and the Senate to get to work to lower costs while ensuring life-saving treatments can continue to be developed right here in America,” Grassley said.
The Grassley/Wyden Prescription Drug Pricing Reduction Act (PDPRA)
, S. 2543
, passed out of the Senate Finance Committee this July with a broad, bipartisan 19-9 vote. It would save taxpayers more than $100 billion and save beneficiaries more than $30 billion in out-of-pocket costs.