On the recordApril 7, 2011
Please. Mr. DeFAZIO. The one other thing, since the Republicans seem to want to roll back the clock, are they are going to bring back the doughnut hole. Now, the doughnut hole is this bizarre construct of the Republican prescription drug benefit. Remember, instead of designing a low-cost prescription drug benefit that was uniform and available to all seniors on Medicare--we could have done that at a very, very low cost--the Republicans said let's subsidize the pharmaceutical and insurance industries and create a confusing mix of plans, and that's what we'll do for seniors. $750 billion over 10 years to subsidize the pharmaceutical and insurance industries and give seniors the doughnut hole. Now, last year we began to close the doughnut hole, and this year the pharmaceutical industry has to give discounted prices to seniors in the doughnut hole. Mr. Ryan would undo that. No more discounted prices for seniors in the doughnut hole. That's eating into the obscene profits of the pharmaceutical companies. So they've got a little provision in this bill. The doughnut hole is back. Make the world safe for doughnut holes. That's the Ryan path to prosperity.
Source
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