Stabenow: Prescription drug bill help economy - Letter to the Editor

A May 2nd Detroit News editorial asserted that my efforts to put a brake on spiraling drug prices would hurt our economy and cost Michigan jobs ("Stabenow's Drug Bill Could Hurt Michigan's Economy").

Nothing could be further from the truth and that's certainly not what I hear when I travel around Michigan. No one has ever come up to me and said: "Debbie, please allow drug prices to continue rising at 18 to 20 percent a year. Paying the highest prescription drug prices in the world is good for the economy."

What I hear over and over again from Big Three auto executives, workers, small business owners, health care providers and senior citizens is that spiraling prescription drug prices are bad for Michigan's economy.

Michigan businesses not only face some of the highest heath care premiums in the nation, but these rates are also rising twice as fast as almost anywhere else. Businesses here are considering layoffs, cutting back on health care coverage, leaving the state -- or just going out of business.

I have offered bills that would speed less expensive generic drugs to market and that would allow Americans to buy Food and Drug Administration-approved prescription drugs from Canada at dramatically lower prices. I appreciate that The News' editorial called these efforts "worthwhile."

I have also sponsored a bill that would allow states to share the prescription drug discounts they receive under Medicaid with families who lack health insurance. Unfortunately, The Detroit News' criticism of this bill was based on a lack of understanding of how it would work. But the U.S. Supreme Court recently ruled that these kinds of state programs may go forward.

Together these three bills would free up money businesses and consumers can put back into the economy through investment or spending. And that will create jobs.

My proposals have drawn support from a variety of business, labor and consumer groups and I'm pleased that these bills passed the Senate last summer with overwhelming bipartisan support. We need to work together to lower health care costs. That's good for the economy -- and it's good for Michigan families.

U.S. Sen. Debbie Stabenow

D-Mich.