Allred Cosponsors Sweeping Bill to Lower Prescription Drug Costs
Washington, D.C. – Congressman Colin Allred (TX-32) today announced his cosponsorship of the Lower Drug Costs Now Act, H.R. 3, which would lower prescription drug costs for all Americans.
“Everywhere I go I hear stories from North Texans who need real relief from the high cost of prescription drugs,” said Allred. “One in four people are rationing insulin because of the high cost, and one in ten adults don’t properly take their medicine for the same reason. The time for action is now. I am proud to cosponsor this bill and will fight to make it law. There is bipartisan agreement that something must be done to lower the high cost of prescription drugs, and I urge our committees, and House and Senate leadership to put partisanship aside and work together.”
Allred recently held a health care roundtable in Garland, where he heard the story of Shane who struggles to afford her insulin due to the high cost. Earlier this year, Allred also told the story of Paul Rozinsky of Richardson in a speech on the House Floor. Paul was denied access to cheaper insulin by his insurer.
The Lower Drug Costs Now Act:
Ends the ban on Medicare negotiating directly with the drug companies, while ensuring seniors never lose access to the prescriptions they need.
Makes the lower drug prices negotiated by Medicare available to all Americans, including those with private insurance, not just Medicare beneficiaries.
Stops drug companies price gouging Americans while charging other countries less for the same drugs, limiting the maximum price for any negotiated drug to be in line with the average price in countries like ours, where drug companies charge less for the same drugs.
Creates a new, $2,000 out-of-pocket limit on prescription drug costs for Medicare beneficiaries.