Political Quotes

On the recordMarch 18, 2010
I find it so interesting that our colleagues across the aisle talk about the problems with the filibuster in the Senate. But that is exactly why bills could not get passed that Republicans in the House passed but couldn't get them passed in the Senate because Democrats filibustered. And about misinformation, there probably has never been a bill that has been more misrepresented to the American people than what is going on here in terms of this bill. And I do think the American people understand the truth, and they're going to act on the truth later on this year. They're doing it now. They're telling them, don't vote on it. But they feel obliged to do it. I want to say that while my colleague across the aisle keeps ranting and raving about corporate profits for insurance companies, he doesn't say a word about the corporate profits for the Big Pharma companies. And yet, these are, they are wholly-owned subsidiaries of the Big Pharma companies. Of all the single industry lobbies in Washington, the largest is the Pharmaceutical Research and Manufacturers of America. PhRMA sent $26.2 million on lobbying last year. That's nearly three times as much as the insurance lobby, which spent only $8.9 million. And let's talk about profits. Drugmakers' combined profit margin last year--this is from an article of The Examiner from March 17, 2010, yesterday--profit margin was 22.2 percent, compared with the insurers' 4.4 percent.
Said by
Virginia Foxx
Republican · North Carolina

Editor's note · Context

The speaker addresses the misrepresentation of healthcare legislation and corporate profits in the pharmaceutical industry.

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