John,
Americans today pay the highest price for prescription drugs in the world―at least 2 1/2 times that of other countries and 3 1/2 times that of European countries.[1] But what if Medicare was able to negotiate drug prices directly with pharmaceutical corporations?
President Biden’s Build Back Better plan that passed the House of Representatives in November is waiting for the Senate to pass it. The Senate needs to step up and get it done now!
The bill will give Medicare the authority to negotiate some prescription drug prices, which will raise about $300 billion. It will also raise at least $1.5 trillion in taxes from the rich and wealthy corporations.[2]
Those funds can be invested in expanding Medicare to include hearing benefits, expanding home care services for the aging and people with disabilities, and lowering prescription drug costs on many medications that have been on the market for at least 9 and 12 years respectively.
This includes insulin (which would be capped at $35 a month)―its price has soared by 1,400% over the last 25 years. But the unequaled power of the “drug lobby,” has blocked this long held goal of actually lowering drug prices for the American people.
Click here to sign the petition and demand Congress fight for seniors!
President Biden has called for historic investments in our families and communities―including investments important for seniors that will lower skyrocketing out-of-pocket costs and help millions of people deal with inflation on everything from food to housing to health care.
Seniors have been hit hard by the pandemic, first dying at the highest rates, now struggling to make ends meet on fixed incomes while corporate greed drives up prices. Congress must take action right now to lower prescription drug prices and expand home care services.
Every day, another 10,000 people turn 65. Hundreds of thousands of people are on waiting lists for home and community based services. A new economic and health bill must provide more affordable home care while ensuring that home care workers get decent pay.
Sign the petition demanding Congress fight for seniors by prioritizing policies that help seniors cope with rising costs—paid for by making the rich and corporations pay their fair share of taxes—while keeping them healthy, in their homes, and in their communities.
Thank you for taking action today,
Frank Clemente
Executive Director
Americans for Tax Fairness Action Fund
[1] "How does health spending in the U.S. compare to other countries?," Peterson-KFF Health System Tracker, Dec. 23, 2020
[2] “Manchin says he’s ready to negotiate again. Democrats must hold him to it,” The Washington Post, March 2, 2022
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