Pelosi bill on prescription drugs would bring discovery to “A screeching halt”

60 Plus Association and American Association of Senior Citizens Founder and Chairman James Martin today issued the following statement regarding the pending vote on HR 3, the bill governing the pricing of prescription drugs:

“There is nothing good about House Resolution 3. Speaker Nancy Pelosi’s scheme would inflict price controls, higher taxes and new penalties on American drug manufacturers. It ushers in Socialism to the prescription drug industry and will harm the health of all Americans. Hardest hit by this bill will be senior citizens, who are disproportionately more dependent on drug therapies. 

“Congress is scheduled to vote this week on Speaker Pelosi’s bill, and members of the House and the American people need to know what is at stake. HR 3 will mean less drug innovation, fewer treatments and cures, less discovery, and a lower quality of life. Even the non-partisan Congressional Budget Office reports that HR 3 will lead to fewer new therapies. 

“The American people – indeed, the entire world – deserve better than HR 3. The therapies being invented by American drug makers are improving lives around the world and HR 3 would bring much of that research and scientific discovery to a screeching halt.

“Republican and Democrat lawmakers alike need to think long and hard before voting to wreck the best drug research industry on Earth. There are other ways to make prescription drugs more affordable. HR 3 needs to be defeated so Congress can start looking for real solutions that don’t rely on failed Socialist policies.”