The objective of this bill is to prop up the Affordable Care Act, so we want to pump money into Medicaid the program and then impose price controls on prescription drugs. H.R. 1425 lifted the provision in Speaker Pelosi's drug bill, H.R. 3, that gives the Secretary of HHS the power to set Medicare drug price controls for pharmaceutical manufacturers and use it as a pay-for. The savings from this price-setting power is meant for the expansion of the Affordable Care Act. Now, the facts are clear. Private investment in drug research and development fuels the innovation ecosystem for the new medicines. It is just that simple. Madam Speaker, the Congressional Budget Office has already determined that H.R. 3's negotiation provision would result in fewer cures. You have to be especially tone deaf to introduce legislation that punishes the very pharmaceutical companies that are going to innovate and mass- produce the vaccine the entire world is counting on to counter the spread of COVID-19. Last year, we were 80 percent of the way there on a bipartisan measure before we got sidelined by H.R. 3 and legislation just like this. Let's get back to the people's work and work together on solutions that make sense, like H.R. 19, drug legislation that would actually make it to the President's desk.…
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