Prescription Drug Costs

Floor Speech

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Ms. ERNST. Mr. President, Americans are facing extremely challenging times, and, right now, folks are working hard just to make ends meet to put food on their table and to care for their families and their loved ones.

As our communities continue to grapple with the devastating impacts of the coronavirus pandemic, the crisis of rising drug costs in the United States has only worsened. Now, more than ever, folks are operating on very thin margins and simply don't have room in their budgets for expensive prescriptions.

No individual should have to make the decision between filling a lifesaving prescription and feeding their family. The skyrocketing costs of prescription drugs have become a matter of life and death for so many. We have heard the heartbreaking stories of individuals who could not afford their insulin, who were forced to ration and skip doses, and, as a result, they lost their lives.

I remember quite vividly a conversation I had with an Iowa mother explaining how she lost her son who, as a young man, was rationing his insulin because he could not afford to do more. It was a heartbreaking discussion, and having that discussion with that mother, I could not help but think then of my own brother and sister who have been reliant on insulin as juvenile diabetics for nearly all of their lives. When we talk about the cost of prescription drugs, lives are literally on the line.

Iowans have been very clear with me where they stand on this issue. They want to see us come together to advance solutions that drive down those drug prices. Seniors, families, and children all need to be assured that when they go to the pharmacy, they will be able to afford their medications and not have to skip a meal--or more--to do so.

This is why I was proud to join my friend and my colleague, Senator Grassley, in introducing a piece of legislation that I know he has worked tirelessly on--the Prescription Drug Pricing Reduction Act of 2020. This vital piece of legislation would root out unfair pricing shenanigans and perverse payment incentives that allow pharmaceutical companies to take advantage of the system at the expense of taxpayers and patients.

According to the Congressional Budget Office, this bill would save taxpayers $95 billion with a ``b,'' reduce out-of-pocket expenses by $72 billion with a ``b,'' and reduce premiums by $1 billion with a ``b.''

It needs to be said that Chairman Grassley worked for months on end to craft this bill in a bipartisan manner with his Democratic counterparts. In fact, two-thirds of the Senate Finance Committee approved our bipartisan Prescription Drug Pricing Reduction Act a year ago this very month--two-thirds of the Senate Finance Committee. Yet, at a time when Americans are struggling to afford rent and groceries, my colleagues across the aisle suddenly chose to drop their support for this bipartisan drug pricing reform bill that they helped write.

Let me make that clear. The Democrats helped write the bill with Senator Grassley. Those who sat on the Finance Committee approved this bill last year.

This year, they are refusing to assist my senior Senator, Chuck Grassley, in moving forward a bill they helped write. That begs the question: What changed over the course of one year? Do you know what, folks? That is exactly what happened. It was the year: 2020 is an election year, and that means Washington is not focused on solutions; it is all about the political scoreboard.

We have seen it already this year with our friends across the aisle blocking us from even debating the JUSTICE Act, the police reform bill that contained about 70 percent of what our Democratic colleagues were asking for in police reform.

Iowans put their partisanship aside and came together and got a police reform package passed; that is, Iowans in our State legislature. I wish we could say the same for Washington, not only on the JUSTICE Act but also this prescription drug pricing bill. Lowering prescription drug costs shouldn't be about who gets the credit. It should be about working across the aisle to save lives, which is the very reason that Senator Grassley worked hand in hand with Democrats on this bill.

Iowans should expect more from Washington. They want more, and they should get it.

Chairman Grassley, President Trump, and I will not back down from this fight. We will press on and do everything in our power to provide relief to Americans who desperately need it. I will continue to call on my Democratic colleagues to come to the table to work on improving our Nation's healthcare system and drive down the costs for Americans. Whether it is lowering drug costs, expanding childcare options for families, ensuring protections for individuals with preexisting conditions, like my sister and my brother, or simply making sure that children have access to clean diapers--simple things. These are all issues that Americans want to see Congress take action on.

Just recently, I joined with my colleague Senator Braun of Indiana in introducing a bill that helps address yet another critical issue for Americans--increasing transparency and lowering healthcare costs.

Our Healthcare PRICE Transparency Act would implement the administration's rules requiring hospitals and insurers to reveal their low, discounted prices and negotiated rates to patients before they receive medical care. Iowans should be able to know the costs associated with their healthcare in advance so they can make the best decisions for themselves and for their families.

Folks, let's not forget that, outside the Halls of Congress, Americans are facing hard times. They are mourning the loss of loved ones who have been taken by this virus. They are worried about how they will take care of their children at home while they work to provide. They are concerned for their health and the well-being of their loved ones. Many of them are considering skipping a dose of their medication or cutting a pill in half to try to make those prescriptions stretch just a little bit further until their next paychecks.

Let's put aside political interests. Let's work together on this. I will be standing at the ready, and it is my sincere hope that my colleagues on both sides of the aisle will join me in this effort.

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