Rep. Snyder Cosponsors Bill To Lower Prescription Drug Prices WASHINGTON, D.C. - United States Representative Vic Snyder (AR-02) will cosponsor the Medicare Prescription Drug Price Reduction Act of 2003, which gives the government authority to negotiate with drug companies to obtain the lowest possible prices for seniors.
The Medicare Prescription drug bill that passed last month specifically prohibited the government from using the purchasing power of over 40 million Medicare beneficiaries to negotiate lower drug prices. The Price Reduction Act, HR 3672, would work to bring down the cost of prescription drugs by striking subsection (i) of section 1860 D-11, which says the Health and Human Services Secretary "may not interfere with the negotiations between drug manufacturers and pharmacies and PDP sponsors."
"The provision in the Medicare prescription drug bill that bars the Secretary of HHS from negotiating with prescription drug companies was one of the primary reasons I voted against it," Congressman Snyder said. "This is the first step in improving a very flawed bill that was signed into law this week. "
Congress has adjourned for the year, and will reconvene on Tuesday, January 20, 2004.
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