Larry Bucshon: “We all share the same goal of lowering the cost of prescription drugs, especially insulin. But H.R. 6833 doesn't get to…”

“We all share the same goal of lowering the cost of prescription drugs, especially insulin. But H.R. 6833 doesn't get to the actual factors that drive the pricing. The bill before us today is just another attempt by Democrats in Washington to pass a political solution and set Federal price controls. And once they open that door, what happens when they don't stop with insulin? What happens when they decide to move on past healthcare, set price controls on other sectors of our economy? Why not cap what you can sell your house for in order to get the cost of housing down? Congress can't be for government price controls, as that is a slippery slope. Now, some of my colleagues may bring up the fact that Republicans' bipartisan alternative, H.R. 19, also caps seniors' out-of-pocket costs. But let me point out the distinction, it is Medicare part D. H.R. 6833 caps Medicare part D and private health plans. That is a direct, government price control on private companies. Madam Speaker, I am a doctor. I am also the co-chair of the House Kidney Caucus. I have an acute understanding of how expensive prescription drugs are and the need for Congress to act. However, I also understand that it is a structural issue and simply slapping price controls on it would not actually solve the problem. This will only raise premiums and shift the costs to patients with other diseases. Thankfully, there is a better way. H.R.…”