Dear Colleague: USMCA & Prescription Drugs Update
Dear Democratic Colleague,
Thank you for your continued thoughtfulness and patriotism at this sad and solemn time for our country. The American people are depending on us to follow the facts, to uphold the Constitution, and protect our national security. They also are depending on us to continue to advance legislation that will make a difference in their lives.
House Democrats, under the leadership of Chairman Richie Neal and our Working Group, continue to make progress in our discussions with the Trade Representative to secure key improvements to the USMCA. We are addressing our core concerns on, first and foremost, strong enforcement, labor, prescription drugs and environmental protections. We hope to continue further down the path to yes, but insist that any trade agreement strengthen America’s working families.
H.R. 3 - The Lower Drug Costs Now Act
The out-of-control price of prescription drugs is an issue that touches every family in America. Earlier this month, led by Chairmen Frank Pallone, Richie Neal and Bobby Scott, House Democrats put forward transformational legislation to reduce drug prices for every American: the Lower Drug Costs Now Act (H.R.3). This sweeping legislation:
- Gives the HHS Secretary powerful tools to negotiate lower drug prices, and makes those lower prices available to every American, as well as Medicare beneficiaries;
- Stops drug companies from ripping off Americans while charging lower prices in other countries for the same drugs, by establishing a maximum price for any negotiated drug with an Average International Market price;
- Creates a $2,000 out-of-pocket limit on drug costs for Medicare beneficiaries; and,
- Creates a Medicare inflation rebate that reverses years of unfair price hikes above inflation.
We are anticipating a score from the CBO that will show significant federal savings from lowering drug costs. The Committees will have to determine how to reinvest these savings, perhaps to improve Medicare benefits, encourage innovation, and strengthen the health care of the American people. Upon our return, we will continue to strengthen the bill with Members’ input.
Democrats will continue to advance bold legislation For The People, at the same time as we prayerfully, thoughtfully and somberly pursue the facts and defend the Constitution.
Thank you for your leadership.