[Congressional Record Volume 153, Number 10 (Thursday, January 18, 2007)]
[Extensions of Remarks]
[Page E142]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




           MEDICARE PRESCRIPTION DRUG NEGOTIATION ACT OF 2007

                                 ______
                                 

                               speech of

                           HON. NITA M. LOWEY

                              of new york

                    in the house of representatives

                        Friday, January 12, 2007

  Mrs. LOWEY. Mr. Speaker, I rise in support of this critical 
legislation.
  The Part D prescription drug plan has caused mass confusion and, 
unfortunately, provided more in profits to drug companies than savings 
to seniors.
  Private corporations, large pharmacy chains, and individual states 
all use their bargaining power to secure lower drug prices for the 
patients they represent. It simply makes no sense that the Department 
of Health and Human Services is prohibited from negotiating on behalf 
of millions more seniors.
  In fact, a recent study by Families USA found that Medicare 
beneficiaries pay an average of 58 percent more for the same 
prescription drugs sold to patients who receive their drugs from the 
Veterans Department, which can negotiate cheaper prices.
  Using the bargaining power of 42 million Medicare enrollees to secure 
the best drug prices for our seniors could save billions, according to 
some estimates.
  These savings could then be used to begin to close the infamous 
``doughnut hole'' or gaps in coverage that millions of seniors 
experienced last year and are expected to experience again in 2007.
  Allowing the Secretary of Health and Human Services to negotiate 
prices won't solve all of the problems associated with the drug benefit 
but it will set us on the right course toward providing our seniors 
with the comprehensive, affordable drug coverage they deserve.
  I urge my colleagues to vote ``yes'' on this important bill.

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