Mr. Speaker, people from around the world come to America for their medical care. Yet Americans are forced to go and travel around the world to get their medications. Right now the Medicare conferees are trying to devise a drug benefit for…
Mr. Speaker, people from around the world come to America for their medical care. Yet Americans are forced to go and travel around the world to get their medications. Right now the Medicare conferees are trying to devise a drug benefit for seniors and for Medicare. Just yesterday, the Newark Star-Ledger reported a $400 billion benefit would barely make a dent in the $2 trillion that seniors are expected to pay for prescription drugs over the next decade. Last week, Boston University came out with a study showing that, as constructed, the pharmaceutical companies would make $139 billion in additional profit under this prescription drug bill.
I know some very smart people wonder why the public gets cynical. Why would you be cynical about the fact that you would barely get a dent in the drug benefit for senior citizens, yet the pharmaceutical companies would walk out with $140 billion more money? I do not think the public is cynical at all. I think they are quite sophisticated. They do not think we are doing our work around here, and they have a good reason to think we are not doing our work around here. They are suffering under staggering increases in drug costs that are going up for seniors on average about 30 to 40 percent a year for the most important drugs that they need for their blood pressure, their heart, rheumatism, arthritis; yet we have a benefit that would accrue a greater benefit to the pharmaceutical companies than to the seniors.
Some are now talking about capping, cutting the cost of Medicare growth, but refuse to take on the subject of making medications more affordable. Anybody who has been around there knows that the number one issue affecting our seniors is the affordability of prescription drugs. We are talking about cutting Medicare, we are talking about increasing the profits of pharmaceutical companies, we are talking about barely making a dent in the cost to seniors; yet we will not address the issue on the table that seniors are asking us to address, which is the issue of affordability where they one month to the next month see their drug prices go up 18, $19 for the same medication, and nothing different has happened.
Pharmaceutical companies do a good thing. They come up with lifesaving drugs. I took some of those medications when I was in the hospital for 8 weeks. They do good work. They get rewarded handsomely. They get a tax credit on the front end for research and development. They have control over the patent laws affecting the pharmaceutical products. They have the taxpayers' funding, the National Institutes of Health, $10 billion a year on drugs and medications. I think the taxpayers have been unbelievably generous to a good industry, and I want them to develop new medications; but I want it at competitive prices. If we are about to expand Medicare to the tune of $400 billion, we owe the taxpayers the decency and the common courtesy to get them the best prices we can. Not the most expensive prices, the best prices.
We have a proposal, 88 Republicans, 153 Democrats joined in a bipartisan fashion. Governors of both parties, mayors of both parties are looking at it, which is to open up the market, bring competition to the pricing of medications and bring that choice and availability to consumers. People today, 2 million Americans are going over the border, grandparents and grandfathers, to get the medications they need that are lifesaving medications. The system we have here where Americans now subsidize all the research and development of these lifesaving medications, we have the distinct honor to do what? To pay the most expensive prices in the world. As my great aunt used to say, Such a deal.
We ask our elderly to pay premium prices when the poor starving French and Germans and Italians and Canadians and Dutch and British are paying 30 to 40 to 50 percent cheaper for cancer drugs, blood thinning drugs, heart drugs, rheumatism, arthritis, diabetic drugs. We funded the research to give them these lifesaving medications, and their government stood up for them and got them decent prices.
What are we asking for? We are asking that our American consumers get the same competitive prices so you do not see the disparity when it comes to a pharmaceutical product for blood pressure. Americans are paying 50 percent more than the people in France or in Germany. And it is based on the free market. I have never seen so many protectionists on the Republican side in my life who refuse to accept the notion of the free market and the principle of the free market.
In Illinois, my Governor did a study showing that of the $340 million we spend in the State of Illinois for pharmaceutical products for employees and retirees, the State of Illinois could save the consumers and the taxpayers $91 million. The New York Times noted of the study, not only could you save
$91 million, they noted that the Canadian system is far safer than the system we have here to guarantee the safety of the products sold. The issue is safety. When somebody tells you that it is about safety, it is not about money, folks, when they tell you it ain't about money, it is usually about money. That is the case. That is what we are dealing with. We are dealing with a product about money.
The other day Eli Lilly, now that we have demystified the notion about safety, Eli Lilly's CEO said that the whole issue related to here is about having the research and development dollars. The taxpayers have been funding the research and development for the last 20 years. They have been quite generous.
I would ask my colleagues and those who are meeting now in the conference to give the taxpayers and our grandparents a break, give them the medications they can afford rather than going into hock to try to do it and become drug runners and coyotes going over the border to get the medications they need to save their lives.