Senate Democrats have reached a life-changing agreement for millions of Americans that will lower prescription drug costs.
Video of Schumer:
Senate Majority Leader Chuck Schumer announces a deal to lower prescription drug prices in the Build Back Better. Sen. Sinema has agreed to the deal. Schumer said, "I think we're there." The cost of insulin for example will drop to $35 a dose, according to Schumer. pic.twitter.com/FZI0v2kVkq
— Sarah Reese Jones (@PoliticusSarah) November 2, 2021
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Sen. Schumer announced to reporters:
I’m pleased to announce that an agreement has been reached to lower prescription drug prices for seniors and families in theÂ
Build Back Better legislation.
Fixing prescription drug pricing has consistently been a top issue for Americans year after year, including the vast majority of both Democrats and Republicans who want to see a change because they simply cannot afford their medications. We have heard this from people across the country with serious illnesses and can’t afford their medicine. What a painstaking position to be in. It’s horrible. Today we have taken a massive step forward in helping alleviate that problem. By empowering Medicare to negotiate prices in Part B and Part D, this deal will directly reduce out-of-pocket drug spending for millions of patients every time they visit the pharmacy or doctor.
It will cap out-of-pocket spending at $2,000 per year, ending the days where a life-changing diagnosis could mean thousands and thousands of dollars in new expenses. And it will reform the industry to stop price gouging and will reform the entire industry to stop price gouging and change both insurance companies and health systems to benefit patients, not corporations. I want to thank my colleagues who worked on this.Â
The price of insulin will go down from $600 a dose to $35 a dose, which is where it should have been if we had proper laws in place. Senator Sinema told me she supports this agreement, so I think we’re there. Many of us wanted to go further, but it’s a big step in helping the American people deal with the price of drugs .Â
Democrats Have Been Trying To Lower Prescription Drug Prices For Decades
Lowering prescription drug prices has been a goal of Democrats for decades. In 2021, it is about to become a reality. One of the parts of the BBB framework that Democrats all regretted losing was lowering prescription drug costs. The House will certainly support whatever deal on prescription drugs that the Senate agrees to.
Build Back Better just got even better for the American people with the deal on lowering drug costs.
Jason is the managing editor. He is also a White House Press Pool and a Congressional correspondent for PoliticusUSA. Jason has a Bachelor’s Degree in Political Science. His graduate work focused on public policy, with a specialization in social reform movements.
Awards and Professional Memberships
Member of the Society of Professional Journalists and The American Political Science Association
