Majority Leader Schumer Floor Remarks On Senate Democrats’ Continued Progress On Legislation To Lower The Cost Of Prescription Drugs

Washington, D.C. –  Senate Majority Leader Chuck Schumer (D-NY) today spoke about the progress that Senate Democrats are making on legislation to lower the cost of prescription drugs. Below are Senator Schumer’s remarks, which can also be viewed here:

Later today, Senate Democrats and Republicans will meet with the parliamentarian to start the so-called Byrd bath on legislation to bring down the cost of prescription drugs, cap out-of-pocket expenses, and make sure millions of Americans do not see their premiums go up in the coming months. This is an important step in the larger process of bringing a reconciliation bill to the floor that can win the support of all fifty Democratic Senators.

Ask any American on the street, and it is a near-guarantee that they will agree the price of prescription medications is one of the most frustrating and debilitating problems in our country.

It is a vicious pincer grip: on the one hand, many Americans desperately need their medicines to stay healthy and live a normal life—and stay alive in some cases. But on the other hand that means many Americans have to pay an arm and a leg at the pharmacy just to stay healthy.

Meanwhile, as Americans pay exorbitant prices for basic medications, the nation’s largest pharmaceutical companies are feasting off record profits because they face little accountability for jacking up prices on consumers. This cannot continue.

Democrats are going to work in the weeks ahead on legislation that will empower Medicare to negotiate the price of prescription drug costs for the first time ever.

We will also cap out-of-pocket drug expenses at $2,000 a year. These changes will save Americans an incredible amount of money and it is one of the best things we can do to lower costs for the American people.

Let me say again: lowering the cost of prescription drugs and capping out-of-pocket expenses is one of the very best things we can do to fight inflation and lower costs for the American people. So those who talk about inflation, support this bill.

In the coming weeks, the question before the Senate will be simple: who will take action in this chamber to bring down the cost of prescription drugs and make sure premiums don’t go up in the future? And who will defend the interests of big pharma who spike the prices of scores of crucial drugs?

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