As Drug Prices Continue to Go Up and Republicans Give Hand Outs to Big Pharma, Democrats Offer Bold Vision to Lower Drug Costs for All Americans

WASHINGTON, D.C. — Today, U.S. Senator Peter Welch (D-Vt.), a member of the Senate Finance Committee, joined Ranking Member of the Senate Finance Committee Ron Wyden (D-Ore.), along with Finance Committee members U.S. Senators Catherine Cortez Masto (D-Nev.) and Ruben Gallego (D-Ariz.), in holding a press conference to outline Senate Democrats’ plans to build on existing reforms and deliver lower health prescription drug prices to all Americans. The Senators also highlighted a new flash report on President Trump’s broken promise to lower drug prices. 

“The President loves to talk a big game and make promises to working families about lowering prescription drug prices. But in reality, his Administration has done nothing to address the crisis. All he’s done is kicked people off their health insurance—including by ending the ACA’s premium tax credits. Families and businesses have been left holding the bag,” said Senator Welch. “Democrats are determined to bring prices down, and we’re willing to work with anyone to find concrete ways to do it. We’re going to lower health care costs and ensure everyone can access affordable, life-saving, and pain-relieving medication.”   

“There is no greater fraud than Donald J. Trump when it comes to lower drug prices,” said Senator Wyden. “Our doors are wide open to anybody who wants to take the bold next step forward on lowering drug costs for Americans. Let’s supercharge Medicare negotiations, leave middlemen nowhere to hide their shameless profiteering, and end the Trump and RFK Jr. chaos while restoring the prestige of the research and science community. Today is an important step for Democrats to show there’s a better way to lower Americans’ health care costs.” 

The Senators announced a new effort to rein in Big Pharma’s outrageous price increases, lower costs for consumers, guarantee predictability for patients, and reduce wasteful government spending that pads the profits of big corporations. In a letter to their Senate colleagues, the Senators outlined three goals that will be a priority for Senate Democrats: 

• Lowering the prices drug manufacturers charge, including an expansion of Medicare negotiation; 

• Reducing out-of-pocket drug costs by continuing to crack down on middlemen; and 

• Restoring and bolstering American innovation. 

Watch a livestream of the press conference below: 

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