WASHINGTON, D.C. —Today, Congressmen French Hill (AR-02) released the following statement after voting against H.R. 3, the Pelosi drug pricing plan:
“Once again, Speaker Pelosi decided to put politics over people when she brought her partisan drug plan to the floor knowing that it has no chance of becoming law. Instead of working with Republicans, she steamrolled the House to appease the progressive wing of her party and introduced a bill that would implement government price controls for medications and prevent an estimated 100 new drugs from being developed over the next ten years. Losing even one new cure is too many for families in central Arkansas affected by fatal diseases.
“I cosponsored a better alternative, H.R. 19, the Lower Costs, More Cures Act, because I believe we can lower drug costs without stifling innovation. Every single provision in H.R. 19 has demonstrated bipartisan support. It would encourage innovation and competition, reduce the price of insulin, cap out-of-pocket costs in Medicare Part D, and provide more stability for our community pharmacists.
“Central Arkansans cannot wait any longer for Congress to take action on the high cost of prescription drugs. By pushing her government takeover of the U.S. drug industry through the House, Speaker Pelosi has guaranteed that Americans will have to wait a little bit longer to see any real action.”
Background: (Courtesy of the House Republican Conference)
The Lower Costs, More Cures Act:
Encourages innovation of groundbreaking new cures, promotes more low-cost options for patients, and curbs how drug companies can game of the system.Provides first-ever out-of-pocket cap for seniors in the Medicare Part D program.Caps the cost of insulin for seniors in the Medicare Part D program.Increases transparency and removes uncertainty at the pharmacy counter.Cuts the cost of drug administration, including cancer treatment, for Medicare beneficiaries by as much as half.Stops subsidizing other developed countries’ health care through stronger trade agreements.Includes policy that has bipartisan, bicameral support and could be signed into law today.
Speaker Pelosi’s H.R. 3:
Undermines access to lifesaving medicines. Under Pelosi’s partisan plan, the Congressional Budget Office (CBO) estimates 8 fewer cures would be developed.The Council of Economic Advisers (CEA) estimates H.R. 3 could lead to as many as 100 fewer drugs entering the United States market over the next decade.Uses the weight of the federal government to threaten manufacturers with a 95 percent tax on revenue if they don’t comply with bureaucratic demands. That’s not negotiation, that’s coercion. Jeopardizes months of bipartisan work to cap senior citizens’ out-of-pocket costs for prescription drug spending by opting for a partisan plan to appease progressives.Is unconstitutional! Analysis by the Congressional Research Service (CRS) concluded Pelosi’s partisan plan could violate both the Fifth Amendment’s Takings Clause, as well as the Eight Amendment’s Excessive Fines Clause.Will not be signed by President Trump.