Rep. Demings Writes to Speaker Pelosi in Support of Drug Price Reforms in IRA

Orlando, FL: Today Rep. Val Demings (FL-10) wrote to Speaker Pelosi calling on her to “reject the possibility of any amendments that weaken or remove…critical drug pricing reforms” in the Inflation Reduction Act. The House of Representatives will vote on the Inflation Reduction Act this Friday.

The Inflation Reduction Act:

• Lowers the cost of health care by allowing Medicare to negotiate lower prices for prescription drugs and extending Affordable Care Act subsidies that benefit 13 million Americans
• Cuts energy costs and strengthens America’s energy security, while combatting the climate crisis by reducing carbon pollution by 40 percent by 2030
• Reduces the federal deficit by closing loopholes to make big corporations pay their fair share and strengthening IRS enforcement so billionaires and big corporations cannot cheat on their taxes

Wrote Rep. Demings, “I support the historic Prescription Drug Pricing Reform provisions in Section B that are designed to drive down the costs of expensive medications. I urge you to reject the possibility of any amendments that remove these critical drug pricing reforms. The reforms included in Section B, along with extending the Affordable Care Act Subsidies in Section C, will provide life saving medications and healthcare services to the American people. Initiatives such as allowing Medicare to negotiate prescription drug prices, cap Medicare out-of-pocket costs, provide free vaccines for seniors, and increasing Medicare Part D subsidies while stabilizing Medicare Part D premiums will not only hold drug companies accountable, but also provide thousands of dollars of savings for millions of Americans.”

The Inflation Reduction Act is predicted to:

• Fight inflation and lower costs for American families (letter from 126 leading economists)
• Lower prescription drug prices and save seniors $900 per year by capping out-of-pocket expenses in Medicare (Robert Wood Johnson Foundation)
• Save the average family in Florida roughly $1,250 per year on their health care (Third Way)
• Create more than 9 million good jobs over the next decade (Political Economy Research Institute)
• Save households $1,800 per year if they take advantage of tax credits and rebates to electrify their homes (Rewiring America)
• Protect our national security and military readiness from climate-related threats (letter from 50 retired generals, admirals and other military leaders)
• Reduce federal budget deficits by $330 billion over the next decade and $1.9 trillion over two decades (Committee for a Responsible Federal Budget)

Voters support the Inflation Reduction Act by a +51-point margin, with 73% supporting and 22% opposed.

69% of voters agree that “billionaires and big corporations no longer being able to get away with not paying their fair share of taxes” would help combat rising prices.