Pallone on Medicare Drug Price Negotiation Announcement

Energy and Commerce Committee Ranking Member Frank Pallone, Jr. (D-NJ) released the following statement after the Trump Administration announced the next round of drug prices negotiated by Medicare:

“I am pleased to see the negotiated prices released today, and that this Administration has fulfilled the mandate of the Inflation Reduction Act that Democrats passed in 2022 without a single Republican vote. These prices will deliver real savings to the Medicare program and ensure seniors can access the drugs they need at fair prices.

“The Trump Administration should continue to build upon the success of the Inflation Reduction Act, and work with Democrats to expand its protections to all Americans, whether in Medicare or in private insurance. It is long past time for Congress to pass bipartisan legislation that will meaningfully address affordability in our health care system, starting with prescription drugs.”

Last week, Pallone joined Ways and Means Committee Ranking Member Richard E. Neal (D-MA) and Education and Workforce Committee Ranking Member Robert C. “Bobby” Scott (D-VA) to introduce the Lowering Drug Costs for American Families Act. The bill builds on the drug pricing provisions Democrats passed in the Inflation Reduction Act and closes new loopholes created by Trump’s Big Ugly Bill that allow pharmaceutical companies to avoid or delay negotiation longer on lifesaving drugs.

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