Rep. Pascrell Votes to Lower Prescription Drug Costs

WASHINGTON, Oct. 23 -- Rep. Bill Pascrell Jr., D-New Jersey, issued the following news release:

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- Follows Pascrell amendment to rename landmark legislation for the late Elijah Cummings

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Last night, U.S. Rep. Bill Pascrell, Jr. (D-NJ-09), New Jersey's only member of the tax-writing House Ways and Means Committee, offered his support for landmark legislation to significantly lessen the burden of high drug costs on the American people. The Elijah E. Cummings Lower Drug Costs Now Act (H.R.3) would give Americans a better, fairer deal on prescription drug prices by permitting Medicare to negotiate with pharmaceutical companies for lower, market-rate prices.

"This legislation is a generational leap in the fight against inequity in America. Allowing Medicare to negotiate and provide fair prices will save American families $158 billion in lower premiums and out-of-pocket costs," said Rep. Pascrell, who has fought for years to lower drug prices for squeezed Americans. "Furthermore, the Joint Committee on Taxation estimates that the revenue provisions of this bill will have no negative effect on the federal budget over the next ten years. With H.R.3, we are declaring that the American people are entitled to affordable drugs. No more cheap talk. This legislation will finally help stop out of control drug prices. It's about time."

Earlier in yesterday's markup session, Rep. Pascrell offered an amendment that successfully renamed H.R. 3 after the late Chairman Elijah Cummings, a champion of lowering prescription drug pricing. During the session, Rep. Pascrell also supported key measures to assist low-income Americans in their pursuit of health-related careers and to add vision, hearing, and dental coverage to Medicare.

Despite Donald Trump's empty promises to address prescription drug pricing, Rep. Pascrell is committed to effectuating real change for seniors and people living with rare diseases, cancers, and other maladies. In May, Rep. Pascrell voted in favor of H.R.1503 and H.R.1520, two bills that will improve transparency for prescription drug pricing. He also blasted the Trump administration's virtue signaling on the issue of drug pricing, stating "this administration's stock in trade is breaking promises," and urged the then-Majority to confront the issue in a bipartisan manner.