Today, President Donald J. Trump sent his principles for drug pricing reform to Capitol Hill. The President’s principles and vision are policies that already have bipartisan support and would bring lasting relief from incredibly high drug prices for America’s seniors. President Trump’s bold leadership lowered drug prices last year for the first time in almost 50 years and has increased access to more affordable drugs for millions of Americans. As the President called for in his State of the Union address, the time is now for Congress to build on that progress, set aside partisan pandering, and work with this White House to deliver the most significant drug pricing reform in more than a decade.
The White House is calling on Republicans and Democrats in Congress to pass legislation that would:
- Cap Medicare Part D beneficiary annual out-of-pocket pharmacy expenses;
- Provide an option to cap Medicare Part D beneficiary monthly out-of-pocket pharmacy expenses;
- Offer protection for seniors against the out-of-pocket cost cliff created by ObamaCare;
- Give insurance companies an incentive to negotiate better prices for costly drugs; and
- Limit drugmakers’ price increases.
As the country confronts a public health challenge, the Administration recognizes the importance of pharmaceutical innovation. The Trump Administration’s goal, as it has always been, is to help America’s seniors and patients afford the drugs they need, not destroy this vital industry.