[Congressional Record Volume 147, Number 112 (Friday, August 3, 2001)]
[Extensions of Remarks]
[Pages E1542-E1543]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                  PRESCRIPTION DRUG AFFORDABILITY ACT

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                             HON. RON PAUL

                                of texas

                    in the house of representatives

                        Thursday, August 2, 2001

  Mr. PAUL. Mr. Speaker, I rise to introduce the Prescription Drug 
Affordability Act. This legislation ensures that millions of Americans, 
including seniors, have access to affordable pharmaceutical products. 
My bill makes pharmaceuticals more affordable to seniors by reducing 
their taxes. It also removes needless goverment barriers to importing 
pharmaceuticals and it protects Internet pharmacies, which are making 
affordable prescription drugs available to millions of Americans, from 
being strangled by federal regulation.
  The first provision of my legislation provides seniors a tax credit 
equal to 80 percent of their prescription drug costs. As many of my 
colleagues have pointed out, our nation's seniors are struggling to 
afford the prescription drugs they need in order to maintain an active 
and healthy lifestyle. Yet, the federal government continues to impose 
taxes on Social Security benefits. Meanwhile, Congress continually 
raids the Social Security trust fund to finance unconstitutional 
programs! It is long past time for Congress to choose between helping 
seniors afford medicine or using the Social Security trust fund as a 
slush fund for big government and pork-barrel spending.
  Mr. Speaker, I do wish to clarify that this tax credit is intended to 
supplement the efforts to reform and strengthen the Medicare system to 
ensure seniors have the ability to use Medicare funds to purchase 
prescription drugs. I am a strong supporter of strengthening the 
Medicare system to allow for more choice and consumer control, 
including structural reforms that will allow seniors to use Medicare 
funds to cover the costs of prescription drugs.
  In addition to making prescription medications more affordable for 
seniors, my bill lowers the price for prescription medicines by 
reducing barriers to the importation of FDA-approved pharmaceuticals. 
Under my bill, anyone wishing to import a drug simply submits an 
application to the FDA, which then must approve the drug unless the FDA 
finds the drug is either not approved for use in the US or is 
adulterated or misbranded. This process will make safe and affordable 
imported medicines affordable to millions of Americans. Mr. Speaker, 
letting the free market work is the best means of lowering the cost of 
prescription drugs.
  I need not remind my colleagues that many senior citizens and other 
Americans impacted by the high costs of prescription medicine have 
demanded Congress reduce the barriers which prevent American consumers 
from purchasing imported pharmaceuticals. Just a few weeks ago, 
Congress responded to these demands by overwhelmingly passing 
legislation liberalizing the rules governing the importation of 
pharmaceuticals. While this provision took a good first step toward 
allowing free trade in pharmaceuticals, and I hope it remains in the 
final bill, the American people will not be satisfied until all 
unnecessary regulations on importing pharmaceuticals are removed.
  The Prescription Drug Affordability Act also protects consumers' 
access to affordable prescription drugs by forbidding the federal 
government from regulating any Internet sales of FDA-approved 
pharmaceuticals by state-licensed pharmacists. As I am sure my 
colleagues are aware, the Internet makes pharmaceuticals and other 
products more affordable and accessible for millions of Americans. One 
gentleman in my district has used the Internet to lower his 
prescription drugs costs from $700 to $100 a month!

  However, the federal government has threatened to destroy this option 
by imposing unnecessary and unconstitutional regulations on web sites 
which sell pharmaceuticals. Any federal regulations would inevitably 
drive up prices of pharmaceuticals, thus depriving many consumers of 
access to affordable prescription medications.
  In conclusion, Mr. Speaker, I urge my colleagues to make 
pharmaceuticals more affordable and accessible by lowering taxes on 
senior citizens, removing barriers to the importation of 
pharmaceuticals and protecting legitimate Internet pharmacies from 
needless regulation by cosponsoring the Prescription Drug Affordability 
Act.

[[Page E1543]]



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