Schumer Statement On The CBO Score Demonstrating Hundreds Of Billions In Savings From Prescription Drug Pricing Legislation

July 11, 2022

Washington, D.C.   Senate Majority Leader Chuck Schumer issued the following statement today after the release of the CBO score of the Democratic plan to lower prescription drug prices and allow Medicare to directly negotiate drug prices showed $287 billion in savings:

“This CBO score shows allowing Medicare prescription drug negotiation will yield billions in smart savings for Americans annually and will deliver much needed relief for millions of seniors.

“Fixing unaffordable prescription drug pricing has been a top issue for Americans and the vast majority of both Democrats and Republicans year after year.

“By empowering Medicare to directly negotiate prices for prescription drugs Congress can end the days of seniors missing lifesaving medications because they cannot afford them, lower costs for millions of patients when they visit the pharmacy, and do so in a fiscally responsible way.

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