On the recordJuly 20, 2022
Mr. President, I am hearing a lot of news reports, and if they are correct, it sounds like the majority party has a very partisan bill that they want to call a drug pricing bill. And I am also told that this is moving along because it looks like the Parliamentarian is currently reviewing that proposed legislation to see if it fits into the process of reconciliation. If the majority party passes its partisan bill, it will be bad policy for patients and taxpayers, but that doesn't mean we don't have answers to the problems that they are trying to solve. But first of all, let me say what the Senate-proposed legislation-- what we know about it--would do. It would put taxpayers at risk for more spending. It would fail to enact any bipartisan accountability of Big Pharma and powerful middlemen that we call pharmacy benefit managers or PBMs for short. Yes, a bipartisan bill limiting pharmaceutical increases is possible. And their bill has been developed in secret, with no markup or open debate. Now, this partisan bill and this process are a far cry from bipartisan drug pricing ideas that I have developed over the past few years. In the past 12 months alone, I have passed five bipartisan drug pricing bills out of committee that will lower prices and create more competition and hold Big Pharma and PBMs accountable. In addition, I have a comprehensive bill to lower prescription drug prices that could pass the Senate with at least 60 votes.…





