Smith Votes to Help Lower Drug Costs for Seniors

Press Release

Senator Gordon H. Smith (R-OR) voted today to allow the federal government to work towards obtaining the lowest drug prices for seniors enrolled in Medicare's prescription drug benefit. The Medicare Fair Prescription Drug Price Act of 2007, which passed in the Senate Finance Committee, would lift the existing prohibition against the Secretary of Health and Human Services' ability to negotiate the cost of drugs covered by Medicare. This bill is expected to come before the full Senate is the coming weeks.

"If there is the possibility that seniors could receive additional savings on their prescription drugs, I think we owe it to them to try and capture it," said Senator Smith. "The policy before us today is a sensible approach to ensure we have the ability to get our seniors the best prices possible on their medications."

Current law blocks the federal government from intervening in drug price negotiations in Medicare Part D. The Medicare Fair Prescription Drug Price Act of 2007 would repeal the prohibition, allowing the Secretary of Health and Human Services to negotiate on behalf of the program.

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