earlier today I heard a Republican member of the Committee on Ways and Means absolutely distort the truth about the Democrats' prescription drug plan, saying that it requires that seniors go into the Democrats' plan whether or not they choose to, whether or not they already have drug coverage. There is no place in this debate for those kinds of fabrications and those kind of lies, and I just want to set the record straight. Mr. Chairman, the prescription drug industry needs to clean up its act. You know it. I know it. American consumers know it. The brand name drug industry has no qualms about charging American consumers the highest prices in the world for prescription drugs, even though American tax dollars and American contributions to private foundations fund nearly half their research, even though the prescription drug industry in this country is the most profitable industry in America, even though the prescription drug industry gets tax breaks so huge they have only half the tax liability of any other industry in this country, and even though more than 50 million Americans have no drug coverage, some of whom must choose between food and their medicine. Prescription drugs are not a luxury item. It is not okay that the drug industry overcharges U.S. consumers for products our own tax dollars helped to produce. The drug industry has tremendous influence over this Congress and especially this White House.
Editor's note · Context
Addressing distortions about the Democrats' prescription drug plan and criticizing the drug industry's practices.
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