Torres Small Votes to Lower Prescription Drug Costs for New Mexicans

WASHINGTON, Dec. 13 -- Rep. Xochitl Torres Small, D-New Mexico, issued the following news release:

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- H.R. 3, the Lower Drug Costs Now Act, passes House of Representatives

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Congresswoman Xochitl Torres Small voted to pass H.R. 3, the Lower Drug Costs Now Act, legislation that would lower the price of life-saving medications for millions of Americans and expand services for seniors on Medicare to include dental, vision, and hearing-related care coverage for the first time. The Lower Drug Costs Now Act gives Medicare the power to negotiate with pharmaceutical companies on behalf of its beneficiaries, with the potential to drive down prescription costs for Americans covered by Medicare as well as private insurance.

Congresswoman Torres Small released the following statement following the bill's passage:

"Everywhere I travel across my district; I constantly hear from constituents about the high-cost of prescriptions. Hardworking New Mexicans should not have to make the choice between taking one medication over another because they can't afford both they were prescribed. It's why I voted today to give the country's largest purchaser of prescription medication the power to negotiate on behalf of seniors and help drive down the costs of medication for Americans across the country," said Torres Small.

The Lower Drug Costs Now Act levels the playing field for American patients and taxpayers and will save the taxpayer around half a trillion in drug costs, according to the non-partisan Congressional Budget Office. Specifically, the bill:

* Gives Medicare the power to negotiate directly with drug companies and creates new tools to bring drug companies to the table to agree to real price reductions.

* Makes the lower drug prices negotiated by Medicare available to Americans with private insurance, not just Medicare beneficiaries.

* Creates a new, $2,000 out-of-pocket limit on prescription drug costs for Medicare beneficiaries, and reverses years of price hikes above inflation across thousands of drugs in Medicare.

* Reinvests in savings in the most transformational improvement to Medicare since its creation - delivering vision, dental and hearing benefits for millions of seniors.