As we address the issue of prescription drugs and as speaker after speaker is speaking about prescription drugs, there are three attempts to deal with out-of-control prices of prescription drugs that are going up on average 20 percent a year: One is through the free market principle of reimportation, allowing Americans to buy drugs in either Europe or Canada. Second, bulk negotiation, creating a Sam's Club using the power of 40 million seniors to purchase drugs at reduced prices like they do in Europe and in Canada. And, third, through speedy introduction of generic medications to market to bring competition to price. In all three areas, the pharmaceutical industry got what they want, and this Congress punted on getting the price reduction as it relates to pharmaceutical prices. We need to offer the taxpayers who are about to be asked to spend $400 billion of their money, $400 billion of taxpayer money, we owe them the common decency and courtesy to get them the best price, either through the free market principle, through creating negotiation bulk prices to get prices reduced, or generics. In each area, this Congress punted on behalf of the pharmaceutical industry.
Editor's note · Context
Discussing the rising costs of prescription drugs and potential solutions during a floor speech.
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