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Lowering the price of life-saving medications

Americans are all too familiar with the high cost of prescription drugs.

Big Pharma continues to raise the already sky-high cost of medications to continue posting record profits.

That's why I've been leading the charge in the Senate to lower prescription drug prices for Americans.

And I'm proud to say that we've finally delivered.

As Chairman of the Senate Committee responsible for Medicare, I've been working hard to negotiate legislation that will lower the cost of medications for seniors in Medicare and deliver much-needed relief to Americans' wallets.

I'm proud to say that this week, the Senate passed my historic legislation.

Senate Democrats pass bill to allow Medicare to negotiate prescription drug costs

Here's a quick rundown of what's in the bill:

Medicare drug price negotiation. This bill empowers the government to negotiate directly with drug companies to ensure seniors in Medicare get access to more affordable medicines.

Monthly out-of-pocket cap. The legislation will cap the monthly out-of-pocket expenses for seniors in Medicare at $2,000.

Inflation cap. This legislation will hold pharmaceutical companies accountable if they raise the price of their drugs faster than inflation.

Once it becomes law, this bill will deliver real relief to Americans' wallets and hold Big Pharma accountable for mugging seniors at the pharmacy counter.

The American people elected Democrats to take big, bold action on the priorities that matter to families nationwide. I'm proud to say we're making good on those promises.

Ron

Posted on August 9, 2022.

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Ron Wyden is a champion for our progressive values -- standing up for consumers and the middle class, fighting for digital privacy and an open internet, protecting our planet and Oregon's special places, and always insisting on human rights and equality for all.

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