Larson Votes to Lower Drug Prices in Ways in Means Committee
Washington, D.C. – Today, Rep. John B. Larson (CT-01) and the Ways and Means Committee voted to favorably report, H.R. 3, the Lower Drug Costs Now Act out of committee. Larson is a cosponsor of the legislation.
“Today the Ways and Means Committee took a huge step towards lowering prescription drug prices for all Americans. I have heard countless stories from constituents about the unaffordable costs for much needed prescription drugs. One woman from Connecticut who needs an inhaler for COPD wrote in to say, ‘Do I have to lose my rent or stop eating in order to continue breathing?’ This is something we cannot wait to address, that is why the Ways and Means Committee is taking action!
“The Lower Drug Costs Now Act will cap out-of-pocket spending on prescription drugs for Medicare beneficiaries at $2,000. It also includes a provision that I advocated for in my Medicare Buy-In at 50 legislation, to allow the federal government to negotiate directly with pharmaceutical companies. This legislation will lower drug prices for over 600,000 people in Connecticut. I am proud to vote today to move this vital legislation forward,” said Larson.
H.R. 3 Will Lower Americans’ Drug Costs and Help Them Save Money
- Under H.R. 3, American families will save $158 billion in lower premiums and out-of-pocket costs. That’s $1,920 for every American family of four.
- H.R. 3 will allow the Secretary of Health and Human Services to negotiate for better prices on prescription drugs in Medicare and lower prices for patients and taxpayers.
- The bill also caps Medicare beneficiaries’ out-of-pocket spending on prescription drugs at $2,000.