Issue Position:Reforming the Pharmaceutical industry

Issue Position

High drug prices are killing people.

The U.S. pharmaceutical industry is forcing Americans to pay the highest drug prices in the world while stashing their profits in tax havens overseas, even while most of the drugs that they profit from are produced with taxpayer funded research.

And 37% of Social Security checks go toward out-of-pocket health care costs. These Big Pharma is gouging the American people with sky-high drug prices, dodging taxes, and eroding our Social Security benefits.

It's time to take action to hold them accountable. Stand with TOM and demand that Congress stop pharmaceutical companies from raking in record profits while avoiding taxes.

In 2013, the U.S. spent nearly 40% more per person on prescriptions than Canada, the next most expensive industrialized nation. This is because drug lobbyists have been able to:

block Medicare from negotiating prescription drug prices,
block legislation that would require transparency on how pharmaceutical companies set their prices,
and block legislation that would prevent greedy CEOs and investors from forcing drug prices through the roof -- bankrupting patients.

This was on display earlier this year when former hedge fund manager turned pharmaceutical CEO Martin "Pharma Bro" Shkreli increased the cost of an HIV/AIDS drug by 4,000% -- charging patients $750 per pill.

And while the pharmaceutical industry is raking in record profits, Pfizer -- one of the world's wealthiest drug companies -- is attempting to move its corporate headquarters out of the United States to a tax haven overseas in order to avoid paying what it owes in taxes here at home. Pfizer already has $140 billion in untaxed profits stashed offshore.

At a time when 37% of Social Security checks are already going toward out-of-pocket health care costs and when there will be no Cost of Living Adjustment for Social Security recipients in 2016, we must fight back to lower drug prices and protect the American people from an out-of-control pharmaceutical industry.

Stand with TOM in demanding that Congress hold the pharmaceutical industry accountable. They cannot be allowed to rake in record profits while avoiding paying their fair share of taxes.

Congress should recognize that this is not a partisan issue. According to a recent Kaiser Health poll, 86% of Americans -- Democrats, Republicans and Independents -- want Congress to address skyrocketing drug prices by requiring drug companies to release information on how they set their prices.

Congress must also hold these massive drug companies to the same standards as we do individuals and small businesses who pay their fair share of taxes.

We cannot continue to allow Pharma Bro, Pfizer and the rest of the pharmaceutical industry to continue to rip-off the American people. It is time for Congress to act on behalf of all of us, not just the elite few.

Unlike Congressman Lamar Smith who bows down to the pharmaceutical industry, Tom will stand up to them - it's time for a change.

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