U.S. Representative Bennie G. Thompson Votes on Strengthening Health Care and Lowering Prescription Drug Costs Act
Rep. Thompson voted to pass H.R 987, the Strengthening Health Care and Lowering Prescription Drug Costs Act, a major piece of legislation that addresses two top concerns of the American people – lowering prescription drug prices and defending vital protections for people with pre-existing conditions. This bill is a critical component of the For The People agenda.
This bipartisan omnibus bill includes three bills to lower prescription drug costs by helping lower-priced generic drugs get to market faster and four measures to reinforce the protections for people with pre-existing conditions and expand enrollment in quality, affordable coverage to more Americans. This bipartisan package invests most of the savings created by the bills promoting generic competition into strengthening our health care system by increasing enrollment in quality coverage and helping interested states set up their own state-based marketplaces, which outperform the Federal marketplace.
Getting more lower-priced generic drugs into the prescription drug market is a key way to create billions of dollars in cost savings for consumers and taxpayers. For example, in 2017 alone, the entry of generic drugs into the market saved consumers and taxpayers a total of $265 billion. According to one estimate, the average drug price decreases by 50 percent in the first year of generic entry, with an 80 percent reduction in five years.
Congressman Bennie Thompson