Lower Drug Costs Now Act of 2019

Floor Speech

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Ms. SLOTKIN. Mr. Chair, for the last 2 years, the single most common issue that Michiganders raise with me is the price of prescription drugs. Michiganders, regardless of party, are demanding that Congress do something about it. People literally clutch my arm at the grocery store to tell me how their son is rationing his insulin or their daughter couldn't go to summer camp because she couldn't afford the inhalers.

That is why shortly after being sworn in in January, I started working in earnest on the issue. I am very proud to stand behind my colleagues and support H.R. 3, the Lower Drug Costs Now Act. This important legislation will drive down the cost of the country's most expensive drugs by allowing our government to negotiate for the very best prices.

To be clear, the VA does the exact same thing. I am on military insurance, and the VA can negotiate for drug prices. Why not allow Medicare to do the very same thing?

To put this in perspective, there are over 800,000 Michiganders living with diabetes, and common insulin medications can cost somewhere between $1,200 and $20,000 a year. This includes Sarah, a woman who lives in Holly, Michigan, where I live, who literally says she is being priced out of her life. Her insulin costs are higher than her rent per month.

This bill, if passed, would allow the government to negotiate, bringing the price down to as little as $400 a year. Once the price is negotiated, all Americans, including Medicare recipients, benefit from that price. The bill would also improve Medicare coverage for seniors and lower their out-of-pocket costs.

Two months ago, I cointroduced a bill that included vision coverage in Medicare. That means Medicare recipients, once every 2 years, will get an eye exam and one set of either glasses or contacts.

I am very pleased that this was incorporated into this bigger bill along with other measures that would include hearing coverage and dental coverage for the first time. So, finally, preventive care will be part of the routine coverage for Medicare.

To be clear, the bill pays for itself. Negotiation saves us, according to the CBO, $450 billion, which covers the additions to Medicare and still gives $10 billion for research and development to the National Institutes of Health.

Mr. Chairman, you will hear my colleagues and Big Pharma say that you have to make a choice between research and lifesaving cures and the price of prescription drugs. That is a false choice, and anyone who watches TV and sees those annoying ads knows that the drug companies have plenty of places to cut their funding.

Members from both parties in the House and Senate, and indeed the President, have said the right things when it comes to lowering drug prices. Now it is time to walk the walk.

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