Representative Steve Scalise | Official U.S. House headshot
Representative Steve Scalise | Official U.S. House headshot
House Majority Leader Steve Scalise (R-LA), Speaker Johnson, Whip Emmer, and Chairwoman Stefanik issued a statement today in response to the Biden-Harris Administration's announcement of prescription drug price controls mandated by the "Inflation Reduction Act."
"Two years after the passage of Congressional Democrats’ failed Inflation Expansion Act, Americans continue to feel the disastrous effects the law has had across our economy," they stated.
The House GOP leadership criticized one of the law's provisions that mandates setting prescription drug prices. "Among the most egregious provisions of the law is the mandate from bureaucrats to artificially set prescription drug prices, which is already doing untold damage to the American health care system. Patients are seeing fewer choices, higher prices, and fewer cures, while the American pharmaceutical industry — which currently leads the world in the development of new medicines — is now in jeopardy of losing its competitive advantage on the rest of the world."
They further argued that price fixing has historically been ineffective. "Make no mistake, price fixing has failed in every sector and in every country where it has ever been tried. The Biden-Harris Administration says it wants to lower prices for families, but their prescription drug price fixing scheme has accomplished just two things: driving up health care costs and crushing American innovation in medicine."
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