Lower Drug Costs Now Act of 2019

Floor Speech

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Mr. HOYER. Madam Chair, I yield myself 1 minute.

Madam Chair, with this legislation, Democrats are fulfilling our pledge to the American people in passing legislation that will bring down prescription drug costs for the people. That is one of the three central pillars of our For the People Agenda.

With H.R. 3, the Elijah E. Cummings Lower Drug Costs Now Act, we are delivering for the people. This legislation, named in memory of my dear friend and our colleague, Elijah Cummings, who fought so hard to lower the cost of prescription drugs, will give Medicare the power to negotiate directly with drug companies, which will help bring drug prices down, as we do now, Madam Chair, for our veterans.

It will make those lower drug prices available to Americans with private insurance as well--not just Medicare, but with private insurance--and it will create a new out-of-pocket limit of $2,000, a cap on out-of-pocket expenses for prescription drugs for those on Medicare part D.

According to the nonpartisan Congressional Budget Office, H.R. 3 will save American taxpayers approximately half a trillion dollars over the next 10 years.

Now, H.R. 3 reinvests those savings, Madam Chair, in key initiatives, including expanding Medicare benefits to cover dental, vision, and hearing services; investing in new research, treatment, and cures; and combating the opioid crisis--all three objectives that the American public overwhelmingly support.

President Trump, Madam Chair, promised in 2016, before his election, that he would work to negotiate lower drug prices, something this bill would give his administration the authority to do. For that reason, he ought to support it.

He said in 2016: ``When it comes time to negotiate the cost of drugs, we are going to negotiate like crazy.'' He said that in a campaign setting. Hopefully, he still believes that today.

I hope he will join in encouraging the Senate to take up H.R. 3, because in 2018, he said this: ``One common cancer drug is nearly seven times as expensive for Medicare as it is for other countries. . . . This happens because the government pays whatever price the drug companies set without any negotiation whatsoever.'' So said President Trump on October 25, 2018.

He went on to say just 2 months ago, in October: ``. . . we want to bring our prices down to what other countries are paying, or at least close. . . .''

Madam Chair, that is what this legislation does.

President Trump went on to say: ``. . . and let the other countries pay more. Because they're setting such low prices that we're actually subsidizing other countries, and that's just not going to happen anymore.''

Those were remarks before the Cabinet meeting on October 16, 2019, just a few weeks ago.

That is what this legislation does. That is why the Senate ought to pass this legislation and the President ought to sign it. I hope he will join us in encouraging the Senate to take up H.R. 3 without delay and pass it. And I urge the President to reverse his opposition to this bill and sign it, his opposition being totally inconsistent with those three quotes that I just articulated.

Too many Americans, Madam Chair, are struggling to pay for their prescription drugs. I have heard awful stories from constituents in my district, as I know every one of us has, about families rationing insulin and having to forego rent or food or other necessities in order to pay for their prescription drugs. That is not an option. Without them, their health will deteriorate, and, yes, they may die.

One senior from Clinton, Maryland, in my district, wrote to tell me that one of her prescription drugs more than doubled in price, and she left the pharmacy empty-handed because she couldn't afford it.

With H.R. 3, we can bring relief to people like her.

With H.R. 3, we can lower the cost of prescription drugs so that Americans can live healthy lives and pursue their American Dream.

Madam Chair, I want to thank Chairman Pallone, Chairman Neal, Chairman Scott, and their committees for working hard on this bill to help Americans lower their prescription drug costs and live longer and healthier lives.

Madam Chair, this should not be a partisan issue. The President articulated the desire to achieve the objective of bringing prices down. That is what this bill does. That is what CBO says it does. So I urge my colleagues to support this.

Now, Madam Chair, I know you could do this, but I want to do it because I am so proud not only of Haley Stevens herself, who is an extraordinary Member of the Congress of the United States, a wonderful member of the previous administration, and somebody who has worked in the private sector and the public sector and who has been elected president of your class, Madam Chair, the freshman class, an extraordinary group of 63 people, 64 if we count our friend Conor Lamb who was elected in a special election just before you--and he, of course, lords it over you that he is a senior member of the freshman class; I understand that.

But Haley Stevens leads an extraordinary group of 64 people who have contributed so much to our society already in their lives, in their productive, constructive lives, and now have come to the Congress. And they came with a promise to do three things, at least:

Number one, to help with wages and jobs and opportunities;

Number two, to bring prescription costs down; and

Number three, to invest in infrastructure.

In this bill, we meet one-third of those promises, and they have made it possible.

Madam Chair, I yield the balance of my time to the gentlewoman from Michigan (Ms. Stevens), the president of the freshman class, so she may manage the remainder of the time.

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