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Arlington, Va. – Today, Americans for Prosperity announced the launch of a new ad campaign aimed at protecting Americans’ access to prescription drugs by stopping H.R 3.
While the goal of the legislation – lowering prescription drug prices – is laudable, the plan is deeply flawed and would cause far more harm than good, leading to widespread drug shortages and stifling the development of new life-saving medicines.
The new ads will urge the following lawmakers to oppose H.R. 3: Rep. Ann Kirkpatrick (AZ-02), Rep. David Price (NC-04), Rep. Chris Pappas (NH-01), Rep. Tom Malinowski (NJ-07), Rep. Elaine Luria (VA-02), and Rep. Abigail Spanberger (VA-07).
CLICK HERE TO VIEW A SAMPLE AD
“A rationing scheme that puts the government in charge of Americans’ medicine cabinets is the wrong prescription that would only hurt those who need help,” said Dean Clancy, Senior Health Policy Fellow at Americans for Prosperity. “Instead of H.R. 3, lawmakers should give Americans a personal option that brings drug prices down and boosts access to prescription medicines by increasing competition, expanding choice, and promoting innovation.”
A government takeover of pharmaceutical drugs is the wrong prescription.
In a 2019 report, the White House Council of Economic Advisers estimated that the legislation would cause the pharmaceutical industry to produce as many as 100 fewer products over the next decade. The U.S. would not only experience less access to drugs and fewer medical breakthroughs, but price controls would also reduce annual economic output by $375 billion to $1 trillion – around 10 to 30 times what the bill is projected to save.
Price controls have failed in other areas of the globe.
In the European Union, price controls have led to drug shortages. Meanwhile, while Americans enjoy access to 89 percent of new drugs, Canadians only have access to about half, because its government deems most new drugs “too expensive.” In fact, price controls made Canada heavily reliant on the U.S. for COVID-19 vaccines by driving drug companies out of the country for decades.
A personal option for prescription drugs is a far better way to reduce prices and boost access to drugs.
Instead of H.R. 3’s approach, lawmakers should give Americans a personal option that brings drug prices down and boosts access to prescription medicines by increasing competition, expanding choice, and promoting innovation. The personal option, a bottom-up alternative to a government takeover of health care, would reduce drug prices while boosting access through the following reforms: