[Congressional Record Volume 168, Number 116 (Thursday, July 14, 2022)]
[Senate]
[Pages S3286-S3287]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]



                               Inflation

  Mr. DURBIN. Madam President, the Republican leader comes to the floor 
regularly with heartfelt concerns about the burdens facing America's 
families. I share those concerns. I think all Senators share those 
concerns. Inflation is a tough thing to deal with in the family budget. 
I go home to Illinois to see the price of gasoline at the gas stations. 
I shop in my local stores and see what it costs for the basics. I 
understand that, although it is an inconvenience for me, for many 
people, it is a hardship. So for the Republican leader to come to the 
floor and remind us of that problem which we are facing in our economy 
is certainly understandable.
  Yesterday, the Bureau of Labor Statistics released the Consumer Price 
Index for the month of June. It came in higher than anticipated. Prices 
rose by 1.3 percent in June, and when compared to June 2021, prices are 
up 9.1 percent--the fastest year over year increase since 1981. When 
you dive into the data, you will see that prices jumped within 
categories that affect almost every household: food, energy, rent, gas. 
We know, for many American families, a break can't come soon enough.
  So what are we going to do about it, give speeches? There are a lot 
of opportunities for us to do that, for the Republican leader and the 
Democratic leader--or are we going to do something?
  The Democrats think it is time to do something, and we have picked 
one category of cost that is particularly important to American 
families. It is the category of cost that not only is a life-and-death 
issue but that determines the cost of health insurance for families. We 
know that because we are told by the largest health insurers in the 
United States that the cost of prescription drugs is driving the cost 
of premiums for health insurance, so Democrats have decided to tackle 
this directly.
  Credit should go to our Democratic leader, Senator Schumer, who is in 
negotiation now on prescription drug pricing with Senator Manchin of 
West Virginia. I have been skeptical of the outcome of that 
negotiation, but I am beginning to be encouraged by what I

[[Page S3287]]

hear from Senator Schumer and from Senator Manchin; that, in fact, we 
can give relief to American families on the life or death inflationary 
cost of prescription drugs.

  Wouldn't that be a breakthrough? Wouldn't it be something if this 50-
50 Senate could end up doing something on a bipartisan basis that 
American families actually feel and for which seniors in our country 
would be able to say, ``There is a limitation on how much I am going to 
be asked to spend for prescription drugs, and beyond that, I won't have 
to pay''? That is amazing--a breakthrough. Would it have made a 
difference when it comes to the cost of living for families? Of course 
it would.
  So you would think that the Senator from Kentucky, who comes to the 
floor every day to give a speech on inflation, would be the leading 
cheerleader in our effort to contain the cost of prescription drugs. 
Wouldn't you think so? No. No. He has announced that he would oppose 
the increased effort to lower the cost of prescription drugs because it 
might raise taxes on the wealthiest people in this country. Hard to 
imagine, isn't it? His sympathy for millionaires and billionaires gets 
in the way of his caring for working families.
  I think he should set it aside and should ask his colleagues on the 
Republican side of the aisle to join us in a bipartisan effort to 
contain the cost of prescription drugs.
  We recognize how these price increases are squeezing household 
budgets across America, and we take it seriously. We have plans to 
lower prescription drug prices, decrease the price of gas at the pump, 
help families with the cost of childcare, and increase the supply of 
housing, all of which will address inflation, but item No. 1, priority 
No. 1, is prescription drugs.
  The Senator from Kentucky has said he will oppose that. I hope he 
changes his mind. I hope, as he tells the stories of working families 
who tell him of the burdens they face with inflation, that he will also 
ask them the questions: How about reduction? How about prescription 
drugs? Are those expensive for you? Does it create a hardship? You know 
they do.
  It is time for us to do something, and we would certainly like to 
have the Republican leader on our team to deal with one of the serious 
problems of the cost of living in America today.