Pelosi Statement on Trump’s Latest Empty Promises on Prescription Drug Prices

July 24, 2020
Press Release

Washington, D.C. – Speaker Nancy Pelosi released this statement after President Trump signed executive orders on prescription drugs, once again failing to advance any rules to lower Americans’ prescription drug prices:

“Once again, President Trump has pulled his punch on reducing prescription drug prices, this time with empty Executive Orders that take no real action to lower Americans’ skyrocketing drug costs.  After promising that he would ‘negotiate like crazy’ for lower prescription drug prices, it is clear that President Trump meant not negotiate at all.

“Instead of meaningfully lowering drug prices, President Trump’s Executive Orders would hand billions of dollars to Big Pharma.  The last version of the Trump Administration’s rebate proposal would put Medicare beneficiaries at risk of higher premiums and total out-of-pocket costs and puts the American taxpayer on the hook for hundreds of billions of dollars.  Thanks to President Trump, the pharmaceutical industry could see even bigger profits and even less restraint on what they charge seniors.

“While President Trump continues to cave to Big Pharma, Democrats have acted to advance real drug price negotiation with the Elijah E. Cummings Lower Drug Costs Now Act.  If President Trump was serious about stopping drug companies from charging Americans more than they charge for the same medicines overseas, he would tell Leader McConnell to pass the Lower Drug Costs Now Act immediately.  Sadly, Big Pharma calls the shots in the Trump White House.”