Lower Drug Costs Now Act of 2019
Floor Speech
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Mr. GIANFORTE. Mr. Chair, I thank the gentleman for yielding, and I appreciate the intent that the gentleman has here with this bill.
The costs of prescription drugs have continued to rise, putting Montanans with critical health issues in jeopardy.
I recently heard from a senior in Libby, Montana, with colon cancer. He was diagnosed in 2010, and his disease has bankrupted his family.
He confided that the cancer drug he takes costs $17,000 per month. It is the only drug that works for his cancer, and Medicare only covers $11,000. He is forced to either give up his fight against cancer or pay an extra $6,000 a month for a lifesaving drug. That is an extra $72,000 a year.
As he put it: ``I find it rather disconcerting that one must sell his home and all his possessions just to survive cancer.''
I agree. This has to stop. No one should have to end up like my constituent in Libby.
The fact is that we could lower prescription costs while capping seniors' out-of-pocket costs by the end of 2019. It is also disheartening that Republicans have been working in good faith all year on a bipartisan basis to do just that.
Unfortunately, House Democrats, led by Speaker Nancy Pelosi, are putting partisan politics in front of patients. Her plan would have devastating consequences for Montanans. It will lead to rationing of lifesaving medication, Big Government price fixing, and government bureaucrats between you and your medication.
The truth is her partisan bill will never move past the House floor.
We have heard from Majority Leader McConnell that the Pelosi plan is dead on arrival in the Senate, and it doesn't have a chance of being signed into law by President Trump.
Unfortunately, as we wait on Democrats to act in a bipartisan way, costs continue to rise and hardworking Montanans continue to choose between their needed medication and paying their bills.
On the other hand, Republicans have introduced the Lower Costs, More Cures Act. This is a bipartisan bill that could be signed into law by the end of 2019. This bill increases transparency, encourages innovation for new drugs and cures, and places a cap on seniors' out- of-pocket costs.
I have also been working to lower costs and shed light on the true cost of prescription drugs. Last week, I introduced bipartisan legislation to bring much-needed transparency into the practice of middlemen in the pharmaceutical supply chain, called pharmacy benefit managers. My bill increases competition between PBMs and lowers costs for patients. It is truly a win-win.
Waiting any longer to pass bills that lower costs for patients to score political points is unacceptable. Enough is enough. Let's stop the political theater and get back to work.
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