[Congressional Record Volume 147, Number 7 (Monday, January 22, 2001)]
[Senate]
[Page S398]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mr. JOHNSON (for himself, Mr. Kennedy, Mr. Dorgan, Mr. 
        Bingaman, Mr. Feingold, Mr. Leahy, Mr. Inouye, Mr. Kerry, and 
        Mr. Daschle):
  S. 125. A bill to provide substantial reductions in the price of 
prescription drugs for Medicare beneficiaries; to the Committee on 
Finance.
  Mr. JOHNSON. Mr. President, I am pleased to introduce the 
``Prescription Drug Fairness for Seniors Act of 2001'', legislation 
that addresses the critical issue facing our older Americans--the cost 
of their prescription drugs. Studies have shown that older Americans 
spend almost three times as much of their income on health care than 
those under the age of 65, and more than three-quarters of Americans 
aged 65 and over are taking prescription drugs. Even more alarming is 
the fact that seniors and others who buy their own prescription drugs, 
are forced to pay over twice as much for their drugs as are the drug 
manufactures' most favored customers, such as the federal government 
and large HMOs.
  The ``Prescription Drug Fairness for Seniors Act'' will protect 
senior citizens and disabled individuals from drug price discrimination 
and make prescription drugs available to Medicare beneficiaries at 
substantially reduced prices. The legislation achieves these goals by 
allowing pharmacies that serve Medicare beneficiaries to purchase 
prescription drugs at prices equal to those of the pharmaceutical 
companies' most favored customers. Estimated to reduce prescription 
drug prices for seniors by over 40%, this bill will help those seniors 
who often times have to make devastating choices between buying food or 
medications. Choices that no human being should have to make.
  Research and development of new drug therapies is an important and 
necessary tool towards improving a person's quality of life. But due to 
the high price tag that often accompanies the latest drug therapies, 
seniors are often left without access to these new therapies, and 
ultimately, in far too many instances, without access to medication at 
all. This legislation is an important step towards restoring the access 
to affordable medications for our Medicare beneficiaries.
  While this may not be the magic bullet that meets all of the long 
term needs of providing Medicare prescription drug coverage, it does 
provide a mechanism for immediate relief from rising drug costs. 
Working together, reaching across the aisle, we can use this time of 
unparalleled prosperity to do the right thing by our seniors. We should 
do it this year for their sake, and for the sake of the future of 
Medicare.
  I look forward to working on this important issue in the months to 
come and hope that Congress will work swiftly in a bipartisan manner to 
enact legislation that will benefit millions of senior citizens and 
disabled individuals across our nation.
                                 ______