WASHINGTON — Congressional Progressive Caucus Chair Pramila Jayapal (WA-07) issued the following statement applauding the newly released results of drug price negotiations between Medicare and pharmaceutical companies, made possible by the Inflation Reduction Act:
“Progressives in Congress and the Biden-Harris administration share a fundamental belief: health care is a human right, and no American should go broke or get sick because they can’t afford proper treatment. Two years ago, we took historic action towards that goal by taking on Big Pharma and passing the Inflation Reduction Act, landmark legislation that authorized the government to negotiate lower drug prices on behalf of working people. Today, the transformative impact of that deal—and the hard work progressives did to make it happen—is becoming clear.
“Thanks to the IRA, the new prices negotiated by Medicare will save millions of seniors and other beneficiaries $1.5 billion in out-of-pocket costs in the first year of the program alone - while saving taxpayers $6 billion. Thanks to a newly empowered Medicare, after two decades of overpaying for the basic medicine that people need to treat common ailments like diabetes, blood clots, and arthritis, these savings will provide critical relief to people’s loved ones and family members.
“Years of progressive advocacy have led to this win, from demanding the House pass a bold drug pricing negotiation bill in the 116th Congress to holding the line during reconciliation negotiations in the 117th. But we’re just getting started. Our Caucus will continue standing up to corporate interests to lower health care costs, allow for the negotiation of every prescription drug, and ensure that in the richest nation in the world, all people have access to quality health care.”
