Submitted
Congresswoman Susan W. Brooks (R-Ind.-05) joined Members of the Energy and Commerce Committee in introducing H.R. 19, The Lower Costs, More Cures Act, which uses bipartisan reforms to lower out of pocket spending on prescription drugs, protect access to new medicines and cures, strengthen transparency and promote competition.
Brooks
“It is clear that Americans pay far too much for drugs at the pharmacy counter. It is our duty to find solutions that lower costs while protecting innovation and future drug development in our country,” Brooks said. “I am disappointed Speaker Pelosi is not supporting this bipartisan, bicameral collaboration. I urge House Leadership to consider H.R. 19, The Lower Costs, More Cures Act, of which I am proud to be an original cosponsor. This package of bipartisan provisions previously passed through the House Energy and Commerce committee and achieves our shared goal of lowering drug prices and out-of-pocket costs for Americans, while ensuring the United States will continue to be on the cutting edge of biomedical research, innovation and breakthrough medicines to develop cures.”
Background
H.R.19, The Lower Costs, More Cures Act, is a bipartisan alternative to Speaker Pelosi’s partisan drug pricing plan. H.R. 19 requires insurance companies to make information about drug costs available in the doctor’s office before a prescription is written so doctors and patients know the cost prior to arriving at the pharmacy counter. Equipped with pricing information up front, doctors can prescribe the medicine that is best and most affordable for their patients. This legislation increases low-cost options for patients by bringing more generic and biosimilar competition to the marketplace faster. It establishes a new negotiator at the United States Trade Representative to negotiate and advocate for the American consumer in all international trade agreements with respect to drug prices.
H.R. 19 lowers how much American families pay out-of-pocket for insulin by encouraging insurers to cover their fair share as part of high-deductible health plans; leveraging current policies in Medicaid to get a better deal for patients; adding a $50 monthly cap on insulin for seniors; and creating new pathways at FDA to allow for lower cost options to come to market sooner.
Speaker Pelosi’s drug pricing plan, H.R. 3, will tax a drug manufacturer’s revenue – starting at 65 percent and increasing by 10 percent every three months if the manufacturer fails to bend to the government’s decree. This large penalty will force the manufacturer to stop selling the drug in America, greatly decreasing access to curative medicines. The bipartisan Congressional Budget Office shows fewer cures to be developed under H.R. 3, due to the harsh penalties and dwindling market incentives.