Maine 1st District Congresswoman Chellie Pingree is co-sponsoring a bill that would force big drug companies to negotiate for lower prices on the drugs they provide to Medicare recipients. Pingree says the "Medicare Prescription Drug Price Negotiation Act" requires Medicare to negotiate for lower prices, a reversal of the policy Congress approved when they passed the Medicare Part D program, which covers some drug expenses for seniors.
"When Congress passed the law they made it illegal for Medicare to demand discounts from the drug companies -- which is a bad deal for seniors and a bad deal for taxpayers," Pingree says in a statement. "It's time we stopped lining the pockets of the big pharmaceutical companies and started putting some of that money back into the pockets of our seniors."
Maine's 2nd District Congressman Mike Michaud is also a co-sponsor of the legislation. Pingree says the measure is expected to save seniors and taxpayers $156 billion over ten years. During her tenure in the Maine Legislature, Pingree championed a similar measure that allowed the state of Maine to negotiate for lower prescription drug prices. Drug companies fought the law to the U.S. Supreme Court, where it was upheld.