President Biden’s and Congressional Democrats’ Build Back Better Act attempts to lower prescription drug prices. The act includes new measures that seek to dramatically limit the costs of prescription drugs in the United States by giving government agencies immense control over setting prices. Also included are measures that would require insurance providers to pay a […]
price controls
Real Clear Policy: Strangling Generic Drugs is the Wrong Path to Lower Prices
Lowering drug prices is a public policy objective that everyone can agree on. About 18 million patients can’t afford their prescribed medications, according to a recent poll, including nearly 1 in 5 members of the poorest households. Unfortunately, Congress’ plan to control pharmaceutical prices consists of half-baked proposals that would do serious harm to consumers, including the decimation […]
Townhall: Price Controls Will Not Lower Drug Prices
58 million Americans are not able to afford the drugs they need, and 34 million adults know someone who died because they could not afford medications. Earlier this month the House Ways & Means Committee endorsed H.R. 3, a proposal that would set prescription drug price controls as one way to pay for the massive $3.5 […]
Coalition Letter Opposing Price Controls on Medical Innovation
Today, dozens of think tank organizations sent a letter to Congress in opposition to H.R. 3 — proposed legislation that would impose price controls on medical drugs and American innovation. The letter is available online.
Townhall: Price Controls Will Kill Pharmaceutical R&D
While imposing price controls on prescription medications may be well-intentioned, it should be clear to legislators that a move in that direction will only create a new set of intractable problems for American patients. Rather than being unable to afford medications, patients could be denied access to future drugs as well as those already on […]
ACI Sends a Letter to Senate and House Leadership: HR3 Will Create Drug Shortages
Dear Senate Majority Leader Schumer, House Speaker Pelosi, Senate Republican Leader McConnell, and House Republican Leader McCarthy: As you tackle prescription drug affordability, we urge Congress to remove any international reference pricing proposals out of drug pricing reform legislation. Failure to do so will have the opposite effect of rising healthcare costs for Americans and […]
Filed Testimony to the California Legislature: Don’t Price Regulate Food Deliver
Today, ACI, along with a coalition of policy groups, filed testimony with the California legislature in opposition to a bill that would institute price controls on restaurant food delivery services. The letter states that the establishment of a price control scheme for contracts between private third-party delivery platforms and restaurants (as proposed under AB 286) […]
Capping Interchange Fees Won’t Enhance Consumer Welfare
Each year, financial merchants such as Visa, Mastercard, American Express, and banks process 39.6 billion card transactions in the United States, amounting to 108.6 million transactions each day. To ensure these transactions are processed quickly and securely, financial merchants and banks impose interchange fees on transactions, more commonly known as swipe fees. Last year, merchants businesses paid financial […]
The Big Problem with Price Controls: Scarcity
One of the most pressing problems facing Americans and the U.S. healthcare system is the affordability of prescription drugs. An estimated 58 million Americans face medication insecurity and have “been unable to afford prescribed drugs at least once in the last 12 months.” The Organization for Economic Co-Operation and Development claimed that per capita, Americans pay $1,220 per year […]
Coaltion Letter Opposing Drug Price Controls
ACI joined 74 other groups urging Congress and the President not to adopt drug price controls. You can read the letter online.