Washington, D.C. – U.S. Senate Majority Leader Chuck Schumer today released the following statement regarding the new bipartisan proposal to lower surging costs of insulin – the Improving Needed Safeguards for Users of Lifesaving Insulin Now (INSULIN) Act. The legislation was introduced by U.S. Senators Jeanne Shaheen (D-NH) and Susan Collins (R-ME):
“The cost of insulin has skyrocketed in recent years and the INSULIN Act will make this life-saving medication more affordable by capping the cost of insulin at $35 a month, change the system of high prices that puts profits ahead of patients, and help lower costs for millions of Americans with diabetes. I will put this bipartisan legislation on the Senate floor very soon – it ought to be passed expeditiously. I commend Sens. Shaheen and Collins for their collaboration. This bill represents months of thoughtful input from both parties.
“There should be nothing remotely partisan about making sure Americans don’t go broke trying to manage their diabetes. At least one in four insulin users report rationing their use because they can’t afford it, putting their health and lives at risk in the process. Senators Shaheen and Collins’ bipartisan legislation deserves the support of anyone who claims they want to lower costs for the American people.”