Fact Sheet: Democrats' Drug Price-Setting Scheme Dismantles Medicare's Promise, Undermines Seniors' Health

Press Release

"The government price controls included in the Inflation Reduction Act (IRA) risk reversing decades of progress on bringing lifesaving treatments and medical breakthroughs to American patients. The partisan law's sweeping price-setting program ignores economic realities, and its implementation process has already begun to erode new drug development, including for cancer therapies and rare disease medications. As seniors and working families confront the IRA's harmful consequences, from domestic manufacturing job losses to higher launch prices for new drugs, I hope that our colleagues on both sides of the aisle can come together to mitigate these devastating effects and advance consensus-based, market-driven solutions to access and affordability challenges."

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