Political Quotes

“Mr. President, today I raise an important issue for my colleagues that impacts many families in Iowa but also throughout the country. You hear it everywhere. It is about high prescription drug costs. I am not going to address that issue across the board, but I am going to do it in a narrow way for one part of it. One contributing factor that has played a part in how much money the government and taxpayers pay for some drugs is a government program called the Medicaid Drug Rebate Program. On Tuesday I introduced bipartisan legislation with Senator Wyden of Oregon. The bill, called the Right Rebate Act of 2018, would close a loophole in that program that causes the problem I am addressing. As a condition for participation in the Medicaid Program, drug companies must pay a rebate--or some people might call it a discount-- to the Federal Government and to the various States for the drugs they offer. Generally speaking, the rebate dollar amount is less for a generic drug than for a brand-name drug. The rebate program hasn't worked as designed. Some drug companies have been able to game the system to boost their bottom line, and they do so at taxpayers' expense. Some drug companies have paid smaller rebates to the government. When that happens, that means taxpayers are footing a bigger burden. One example, in particular, highlights the main issues we aim to solve with this legislation.…”