Hoyer Remarks at a Press Conference on H.R. 3, the Lower Drug Costs Now Act
“We won a strong Majority in the House because we campaigned on a promise to tackle the issues Americans care most about. This is one of those issues. One of the most pressing challenges facing our country and working families is the rising cost of prescription drugs.
“Drug prices, clearly, are out of control. We’ve all heard the horror stories of families having to choose between paying for necessary medications like insulin or paying the mortgage, rent, or putting food on the table.
“In my home state of Maryland, the list price for insulin is twenty-one times that in Australia; fourteen times the price in the United Kingdom; and twelve times the cost in Canada. Uninsured people living in my district [pay] six times more for an epi-pen than Australians pay and nine times more than the cost in Great Britain. That’s just unsustainable, unacceptable.
“American taxpayers support prescription drug innovation through government grants and R&D tax credits to drug companies, so Americans shouldn’t have to pay many times more what people in other countries pay. Something needs to be done, and Democrats are determined to get the job done. We promised we would do it, and we’re going to do it.
“There is plenty of room to secure fair prices and protect innovation. That’s why today we are unveiling H.R. 3, [legislation] that will help lower prescription drug prices and hold drug companies accountable. H.R. 3, will now advance to committee consideration – we have the three Chairs here with us – for a chance to make improvements in the legislation, to hear from people as to their views as how this best can be done.
“I look forward to seeing the progress made there, with the goal of bringing a marked-up bill to the Floor that addresses this challenge with the seriousness it deserves. The time is now. I thank the Speaker for her leadership and these three Committee Chairs and their Members for their leadership, and I look forward to being supportive of their product.”
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