Posted by Michael Wonder on 24 Jul 2019
Enough talk—it's time to act on drug prices
24 July 2019 - After months of talk, Congress is finally moving forward with legislation to cut prescription drug prices.
On Thursday, the Senate Finance Committee will meet to mark up bipartisan legislation aimed at making medications more affordable. This issue is critical for AARP’s 38 million members, and we are glad to see meaningful action to counter years of rising prices. It’s time.
The bipartisan Prescription Drug Pricing Reduction Act would cap out-of-pocket drug costs for seniors and crack down on pharmaceutical companies that raise prices faster than inflation. By extending inflation-based rebates to Medicare (a policy already used by Medicaid to save taxpayers billions), the bill would put pressure on drugmakers to stop relentless price increases that occur year after year.
