Education and Labor Committee Votes to Advance Ambitious Proposal to Lower the Cost of Prescription Drugs
WASHINGTON – Today, the Committee on Education and Labor voted to advance the Lower Drug Costs Now Act, H.R. 3, an ambitious proposal to cut the cost of prescription drugs for all Americans. The Committee advanced the bill on a party line vote, 27-21.
“The skyrocketing cost of drugs is undermining the health and financial security of seniors, taxpayers, and American consumers – who are routinely forced to pay far more for the same drugs as people in other countries,” said Chairman Scott. “The American people have made it clear that they want Congress to take action, and that is what we did today. The Lower Drug Costs Now Act delivers on our promise to lower drug prices.”
According to preliminary analyses conducted by the Congressional Budget Office and the Centers for Medicare and Medicaid Services, the proposal would save $345 billion for Medicare Part D, alone. It would also save $46 billion in health care costs for private employers, and $55 billion for American workers over the next 10 years.
Democratic Press Office, 202-226-0853
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