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***VIDEO FILE INCLUDED*** Reps. Lee, Horsford Speak on Momentous Passage of Lower Drug Costs Now Act

December 15, 2019

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Las Vegas, Nev. – U.S. Reps. Susie Lee (Nev.-03) and Steven Horsford (Nev.-04) held a press conference on the historic passage of the Elijah Cummings Lower Drug Costs Now Act (H.R. 3), comprehensive legislation to lower the cost of prescription drugs for all Americans. Reps. Lee and Horsford voted to pass the bill on Thursday, December 12. Protect Our Care's Andres Ramirez, southern Nevada constituents, and local stakeholders joined them.

"This is a historic moment in Congress's decades-long struggle to lower prescription drug prices for the American people," said Rep. Lee. "The comprehensive Lower Drug Costs Now Act takes significant steps to rein in pharmaceutical companies, improve price negotiation and transparency, and lower prescription drug costs across the board. Since being sworn in, over 1,200 of my constituents have contacted me with the same message: our families are being crushed by skyrocketing drug prices. Thousands of Nevadans with diabetes, arthritis, asthma, cancer, MS, and other illnesses will see their medication costs drop significantly with H.R. 3. Not just that, but my provision in H.R. 3 will protect hard-working Nevadans on Medicare by guaranteeing that their disbursements from their retirement plans are not counted towards their eligibility of Medicare Part D's Low Income Subsidy program. This is an important moment for the health of our country, and I hope that my colleagues in the Senate and the President will take action with us to lower prescription drug prices once and for all."

"This is a historic time for families and patients all across America — for folks like myself, who rely on multiple, life-saving medications every day," said Rep. Horsford. "I voted for this legislation for the countless people who have stopped me at churches or community events to tell me how they've had to make the painful decisions between paying their rent and affording the life-saving medications they need to stay healthy. I voted to once and for all put the health of Nevadans over the profits of pharmaceutical companies. I won't give up fighting until this legislation is passed and signed into law."

BACKGROUND: Before the passage of H.R. 3 on Thursday, Rep. Lee spoke on the House floor in support of H.R. 3, including her bill added as a provision in the underlying bill, the Enhancing Retirement Security for Medicare Beneficiaries Act, which would guarantee that retirement savings are not counted when determining if someone qualifies for Medicare Part D's Low Income Subsidy (LES) program.

According to the nonpartisan Congressional Budget Office (CBO), under H.R. 3, American families will save $158 billion in lower premiums and out-of-pocket costs, that's $1,920 for every American family of four. American taxpayers will save more than $500 billion.

This provision will benefit many of the 95,581 residents in Nevada's 3rd District enrolled in a Medicare Part D plan.

H.R. 3 empowers the Secretary of Health and Human Services (HHS) to negotiate better prescription drug prices for people with job-based health coverage, not just those in Medicare. In fact, the nonpartisan Congressional Budget Office (CBO) and independent actuaries found that premiums and out-of-pocket costs will decrease.

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