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Medicare Prescription Drug Price Negotiation Act of 2007

By:
Date:
Location: Washington, DC


MEDICARE PRESCRIPTION DRUG PRICE NEGOTIATION ACT OF 2007

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Mr. BACA. Mr. Speaker, the rising cost of prescription drugs has become a serious problem for millions of our national seniors. Forty-three million are enrolled in Medicare. In fact, more than 20 percent of seniors in Medicare are minorities: 3.9 million are African Americans, 3.1 million are Latinos, and 1.7 million are other racial and ethnic minorities. Many of them are already on fixed income. Many of these high prices are forcing them to choose between medicine and paying for their rent or doing without something else.

What Republicans pushed through in the Medicare drug program promised to bring the drug prices down. Yet they have gone up. Yet they plan to protect the rich drug companies' profits and do not go far enough to lower these expenses that are affecting a lot of our minorities. I know firsthand because I have experienced that.

It is clear that this legislation has failed to bring down the drug prices. Giving the Secretary the authority to bargain with the drug manufacturers will result in lower costs for 22 million Medicare enrollees in part D. I ask that we support H.R. 4. This is commonsense legislation.

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