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Arlington, Va. – Americans for Prosperity today announced the launch of its next round of ads encouraging members of Congress to oppose H.R. 3. The bill would put the federal government in charge of prescription medications, a plan that would lead to drug rationing and stifle the development of new drugs in the future.
The digital ads, which are part of AFP’s campaign to defeat H.R. 3, target the following lawmakers: Rep. Kurt Schrader (OR-5), Rep. Scott Peters (CA-52), Rep. Lisa Blunt Rochester (DE-At Large), Rep. Tom O’Halleran (AZ-01), and Rep. Kathleen Rice (NY-04).
“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. “Lawmakers should stand firm against this deeply misguided legislation, and instead support a personal option that expands access to affordable medications without government price fixing.”
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Reps. Peters, Schrader, and Rice were part of a group of 10 Democratic lawmakers that recently urged House Speaker Nancy Pelosi to abandon drug price fixing.
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:
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