Increase in Drug Prices

Floor Speech

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Mr. McNERNEY. Mr. Speaker, as a mathematician and a Member of Congress sent here to represent the interests of my constituents, I am baffled by the arguments made by my Republican colleagues regarding the Patient Protection and Affordable Care Enhancement Act. They don't seem to understand simple math.

The facts are that one in four Americans report their prescriptions are too expensive and brand name drug prices have jumped 60 percent in just a year's time. At this rate, the majority of Americans are becoming unable to afford their medications.

Meanwhile, the CBO has estimated that this bill would reduce drug prices by up to 55 percent for the covered drugs. This would offset the increase of those brand name prescriptions.

We are sent here to do what is right for the American people, not for the pharmaceutical companies who raked in $5.1 billion in 1 year through the price increases of just seven drugs.

It is time for my Republican colleagues to do the math and, more importantly, listen to their constituents.

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