Medicare Prescription Drug Price Negotiation Act of 2007

MEDICARE PRESCRIPTION DRUG PRICE NEGOTIATION ACT OF 2007

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Mr. COSTA. Mr. Speaker, I ask my colleagues to vote for H.R. 4 to fix the flaws of this program for our seniors and to save our taxpayers dollars.

For many years, I was the principle caregiver for my late mother.

Through her experience and my own, it became clear to me that the prescription drug bill passed by the 108th Congress was seriously flawed from the standpoint of being overly complex and not providing cost-savings for seniors.

It's time we make the necessary changes.

I've heard those opposed to this bill repeatedly claim it is contrary to free market principles.

But I ask you, what could be more apple pie to free market than being able to negotiate over pricing?

Those opposed to this bill also talk about the CBO's evaluation of the bill.

But what they won't mention is that, in 2003 the 10-year cost estimate for this bill was $395 billion.

Do you know what they say now?

Part D spending will cost the government nearly double the original estimates.

As a Member of this House it is time we support our free market and protect our taxpayer dollars.

Let's correct this injustice for those living on fixed incomes and put an end to this prescription drug rip-off.

This bill is an improvement. We should and can do better.

Vote for H.R. 4.

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