Iowa Senator Chuck Grassley is championing a bipartisan bill to lower prescription drug costs for Americans over the age of 65.
The Senate Finance Committee, which Grassley chairs, approved the plan Thursday on a bipartisan vote.
The plan faces stiff resistance from the pharmaceutical industry & from some of Grassley’s fellow Republicans.
The bill calls for penalizing companies that raise prescription drug prices for seniors above the rate of inflation.
Grassley says the “naysayers” are wrong to suggest the bill calls for price controls.
The measure would set a yearly 31-hundred dollar limit on what Americans on Medicare would have to pay — out-of-pocket — to cover the costs of their prescriptions.
OC….TO SAVE MONEY :09
Grassley says no American should have to go bankrupt trying to pay for necessary medications.