S. 2543

Floor Speech

BREAK IN TRANSCRIPT

Mr. GRASSLEY. Mr. President, I and my friend Senator Wyden released an updated version of our bipartisan Prescription Drug Pricing Reduction Act. This bill will now deliver even more savings for seniors and Americans with disabilities. When I say ``more,'' it will be more than the bill that was voted out of the Senate Committee on Finance on a 19-to-9 vote during the last week of July. The bill will also help pay for critical health programs. Billions of dollars saved in out-of- pocket costs are also a result of the bill and billions of dollars allocated for healthcare programs that tens of millions of Americans rely upon.

What I just said will be accomplished all without spending a dime more of taxpayer dollars. That is because Big Pharma, our pharmaceutical industry of the United States, will finally be held accountable. Taxpayers shouldn't be put on the hook for unlimited subsidies from the Federal Treasury to big companies that make billions in profits.

I don't often quote the Washington Post about legislation I put in, but the Washington Post recently wrote that our bill was the ``drug pricing bill with the best chances of passing Congress.''

Over the weekend, President Trump applauded the work my friend Senator Wyden and I have done to improve our bipartisan legislation. The President was very supportive of it even before we made these changes. That is because, in the Congress of the United States today, it is the only significant bipartisan legislation that exists to address the skyrocketing costs of prescription drugs.

The Senate must demonstrate courage and finally pass this very important bill because very few Members of Congress can miss the cry of their citizens that drug pricing is too high, and they expect Congress to do something about it. This bill answers that cry and should soon get a vote.

BREAK IN TRANSCRIPT

Source