Pallone pushes legislation aimed at lowering prescription drug prices

As the pandemic continues, there’s renewed emphasis on ensuring access to affordable health care

On Tuesday, Rep. Frank Pallone called on Congress and the Biden administration to make cutting the cost of prescription drugs a top priority. Promoting his reintroduced legislation, the Lower Drug Costs Now Act — which stalled after passing in the House in 2019 — Pallone (D-6th) said the legislation would allow the federal government to negotiate prescription prices for Medicare based on the cost of the same pharmaceutical drugs in other western nations.

The bill would also cap annual out-of-pocket spending on prescriptions for Medicare recipients and require drug companies to pay a rebate if they raise prices faster than inflation.

WATCH: Government should step in on drug prices

MORE: More people sign up for NJ’s ‘Obamacare’ in 2021. Lower monthly premiums

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