New reporting from CNBC shows drug manufacturers raised prices on more than 250 drugs for the New Year, price gouging that comes amidst reports that Kevin McCarthy, the NRCC, and Mitch McConnell are being handsomely rewarded for their efforts to block bipartisan legislation that would bring down the costs of prescription drugs.
Drug manufacturers got a huge tax handout from the Republican tax bill. Their savings were so big that early estimates showed the top five drug manufacturers, on their own, would pocket over $42 billion in tax handouts. And while it was crystal clear long ago that companies aren’t passing along their savings to workers, it’s now obvious they aren’t passing that gift along to American seniors or working families either.
It’s no wonder the American people trust Democrats over Republicans to lower prescription drug costs by 16 points – a margin that could increase after House Democrats passed drug price legislation to save at least $345 billion for the American people and approximately $1,920 per year for a family of four.
Statement From DCCC Spokesperson Robyn Patterson
“Washington Republicans left huge gifts under the tree for drug manufacturers who just raised prices on the millions of seniors and working families who rely on these medications to stay healthy. House Republicans not only voted to give billions of dollars in tax handouts to drug makers, but nearly all of them also voted against bipartisan legislation to take on drug companies and bring down the skyrocketing cost of prescription medications. These price increases are a stark reminder that while House Democrats continue to put the priorities of the American people first, Washington Republicans will always prioritize padding the pockets of their special interest backers over serving the people they were elected to represent.”