Americans are paying too much for prescription drugs, I want to change that. That is why I have thrown my support to develop H.R. 19, the Lower Costs, More Cures Act. This bipartisan legislation aims to encourage innovation, provide patients with affordable and predictable costs, increase transparency, and promote fair competition in the market.
H.R. 19 has four main goals to help lower the cost of prescription drugs:
- Affordability & Predictability – Ensuring there is investment for research and development of new cures is essential when discussing prescription drug prices.
- Transparency – Americans don’t want to play a guessing game at the pharmacy counter. Patients want affordability and predictability
- Competition – Increases competition and get more generic medicines to the market
- Strong Trade – Developed countries are unfairly benefitting from AMerican medical innovation wihle Americans are paying some of the highest prices in the world for prescription drugs. We must stop subsidizing other developed countries’ prescription drugs through stronger trade agreements with real enforcement mechcanisms
My Democratic colleagues have introduced H.R. 3, which would essentially protect Big Pharma. H.R. 19 includes over 40 bipartisan provisions and won’t result in losing over innovative drugs by 2030 (Source: U.S. Council of Economic Advisers), kill over 135 small biotech firms responsible for 70% of clinical trials (Source: Axios Vitals) , or prevent Europe from putting a value on the price of a health year of life (Source: WSJ).
Americans deserve comprehensive solutions that deliver innovation and insure fairness. I will continue to work across the aisle to fight for bipartisan solutions like H.R. 19 to reduce the cost of prescription drugs.