U.S. Rep. Rodney Davis (R-Ill.) released this statement after the Congressional Budget Office’s report found that H.R. 3, the Democrat’s prescription drug bill, will result in fewer new drug products being developed and coming to the market. Instead, Davis is backing a bipartisan alternative, H.R. 19, the Lower Costs, More Cures Act, which bundles a range of measures already advanced by House committees or were included in a drug pricing bill (S. 2543) passed by the Senate Finance Committee 19-9.
“The Congressional Budget Office found that the Democrats’ bill will lead to fewer drugs moving to the market and as the husband of a cancer survivor, I am extremely concerned about this,” said Davis. “Americans shouldn’t have to give up access to new treatments as they do in Canada and the United Kingdom. We should be able to lower costs without limiting new cures. The bill I’m backing lowers costs without sacrificing new drug treatments. The language in this bill was negotiated between Republicans and Democrats and could become law if Speaker Pelosi would put it on the floor. Unfortunately, H.R. 3 was negotiated between only Democrats and has moved so far left that it has no chance of becoming law.”
H.R 3 Concerns
- CBO estimates nearly 40 fewer new drugs in the next two decades, but notes that these estimates are uncertain. The White House Council of Economic Advisors estimate these numbers to be closer to 100 fewer drugs within the next decade.
- H.R. 3’s government price-setting is a move toward socializing our health care system, which has proven to limit access to treatments. From 2011 to 2018, U.S. patients had access to 100% of all new global medicines compared to the United Kingdom, which only had access to 64% of all drugs, and Canada, which only had access to 52%.
- H.R. 3 was negotiated with only Democrats to move further and further left: From Politico, “House Democratic leadership on Tuesday clinched a deal to win progressive leaders’ support for a sweeping drug pricing bill that could clear its path for passage in the full House on Thursday.”
What H.R. 19 Does
- Encourages innovation of groundbreaking new cures, promotes more low-cost options for patients, and curbs how drug companies can game the system by including the CREATES Act and other bipartisan bills to prevent anti-competitive conduct that blocks lower-cost generic drugs from entering the market.
- Provides first-ever out-of-pocket cap for seniors in the Medicare Part D program at $3,100 and allows seniors to spread the cost over the course of the year if they are hit with a major bill at the beginning of the year.
- Caps the cost of insulin for seniors in the Medicare Part D program.
- Increases transparency, including reporting on excessive price hikes, and removes uncertainty at the pharmacy counter by creating a Medicare online tool to allow beneficiaries to compare costs.
- Cuts the cost of drug administration, including cancer treatment, for Medicare beneficiaries by as much as half with bills like the Colorectal Cancer Screening Act, which waives the copay for screenings for Medicare patients.
- Stops subsidizing other developed countries’ health care through stronger trade agreements by creating a chief pharmaceutical officer at the Office of United State Trade Representative (USTR).
Click here to learn more about H.R. 19.