Last month, Senator Ernst endorsed bipartisan legislation to hold Big Pharma accountable and lower prescription drug prices for Iowa seniors and families. These bipartisan solutions, that have been championed by Iowa’s own Senator Grassley, would cap out-of-pocket costs for Medicare Part D beneficiaries, protect patients and taxpayers by keeping drug prices in line with inflation, increase competition, boost transparency and disincentivize price-gouging.
For too long, large pharmaceutical companies have been able to avoid transparency and accountability for gaming the system and hiking prices. It’s time for Congress to pass these measures into law.
The nonpartisan Congressional Budget Office estimates these solutions would save taxpayers $100 billion in Medicare and Medicaid spending, save Part D beneficiaries $35 billion in out-of-pocket costs and premiums and achieve savings for Americans with private health coverage.
It’s time to take the politics out of the equation at a time when Iowa families are choosing between paying monthly bills and their prescription drugs. The Senate must act on the bipartisan solutions supported by Senators Grassley and Ernst and get them passed into law immediately.