Op-Eds

WASHINGTON, D.C. – Congressman Brett Guthrie (KY-02) authored an op-ed in The Washington Times to encourage a bipartisan path to lower prescription drug costs.

Guthrie, who serves as the Republican Leader of the Energy and Commerce Committee’s Health Subcommittee and co-leader of the Healthy Future Task Force, makes the case for passing the Lower Costs, More Cures Act, a bipartisan package of bills to decrease drug costs and protect innovation for life-saving treatments. Alternatively, the Democrat partisan drug pricing bill, H.R. 3, would result in fewer cures and diminish medical innovation after depending on innovation to develop safe and effective COVID-19 vaccines. Learn more about the Lower Costs, More Cures Act in Guthrie’s op-ed.

The Washington Times
Standing up for bipartisanship against government takeover of prescription drug prices
By U.S. Rep. Brett Guthrie

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Reintroduced this Congress, every single one of the 40 provisions in the Lower Costs, More Cures Act is bipartisan. It was disappointing to see House Democrats stand behind Speaker Nancy Pelosi’s partisan drug pricing bill, H.R. 3, last Congress and again this Congress. Although the Lower Costs, More Cures Act was not passed in its entirety, our bipartisan alternative still had 15 provisions that were signed into law last Congress. Since the start of this Congress, four more provisions from H.R. 19 have already been signed into law.

As the cost of gas, food, and other goods is increasing, the Lower Costs, More Cures Act would decrease drug costs and give seniors in Medicare certainty on their prescription drug spending. Under this bill, Medicare beneficiaries would benefit from the first ever out-of-pocket spending cap for prescription drugs. Seniors would also have their insulin and insulin supply costs capped after they meet their deductible. Instead of paying for costly drugs all at once, a patient smoothing provision in this bill would lessen the burden for seniors by allowing them to spread out their drug costs over a certain time period. The Lower Costs, More Cures Act also prevents drug companies from gaming the system, promotes price transparency, and helps end American taxpayers from having to subsidize innovation for other countries through stronger trade agreements. The Lower Costs, More Cures Act would not only decrease drug costs, but also prioritize and protect the medical innovation that will help produce new treatments and cures.

On the other hand, Speaker Pelosi’s drug pricing plan would “negotiate” drug costs, but the “negotiation” is forcing up to a 95% tax on a drug company’s revenue if the company does not accept the mandated government price. H.R. 3 policies disincentivize companies to take risks on years-long projects to develop treatments. The Congressional Budget Office estimated that Speaker Pelosi’s government takeover of prescription drug prices would result in up to 15 fewer drugs over 10 years, and the White House Council of Economic Advisers under the Trump Administration estimated that up to 100 life-saving drugs would not come to market.

I’m relieved Speaker Pelosi’s damaging, socialized medicine policies were not able to take a toll on our medical innovation this past year as we were developing COVID-19 vaccines. It does not make sense to me that House Democrats would want to pass a bill during a global pandemic that would limit medical innovation.

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Click HERE for full op-ed.

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