Representative Anna Paulina Luna (R-FL) is backing legislation to codify President Donald Trump's most-favored-nation (MFN) drug-pricing executive order.
The Context
Last May, President Trump issued an executive order instituting a form of price controls on prescription drugs by capping the permitted price of drugs sold in the US at the price in the country with the lowest drug prices.
Specifically, manufacturers would be required to raise prices in other countries to balance costs.
While the initiative has its critics, polling indicates that 87% of Americans polled in a bipartisan survey supported the measure in some form.
What Lawmakers are Saying
Representative Ro Khanna (D-CA), who introduced the bill, said in a press release, "Americans are getting ripped off. It's deeply unfair that we're paying significantly more for the same prescription drugs than people in other countries."
"Pharmaceutical companies are raking in billions while patients are rationing their medications or going into crushing debt to get the prescriptions they need," Rep. Khanna continued. "There is bipartisan outrage, and Congress must come together to act. I'm proud to introduce this bipartisan bill with Reps. Luna, Kaptur, and Biggs to lower prices for Americans."
Rep. Luna further commented, "For decades, Big Pharma has lined its pockets by ripping off American consumers."
"Their extraordinarily profitable racket overcharged desperate Americans for life-saving medicine, while charging foreign consumers more reasonable prices," Rep. Luna added. "I'm proud to reach across the aisle to codify President Trump's executive order, which put an end to this disgusting practice. Congress must make sure that pharmaceutical companies are never allowed to extort the sick and needy again."
A Similar Bill
Last August, Representative Vern Buchanan (R-FL) introduced the USTRx Act, which creates the position of Chief Pharmaceutical Trade Negotiator within the Office of the U.S. Trade Representative (USTR), who will study and report on unfair foreign price-setting practices in medicine.
Like the newer bill backed by Luna, the USTRx Act builds upon the original EO signed by Trump.
