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Closing a loophole

Since the early 1990s, drug manufacturers have exploited a loophole in Medicaid policy to manipulate prices at patients' expense. As a result, they've funneled billions of dollars from poor families directly to their bottom lines.

This year, Illinois Rep. Adam Kinzinger and I introduced the Fair and Accurate Medicaid Pricing Act, to close that loophole, hold Big Pharma accountable, and above all, protect low-income patients from predatory corporate practices.

And on Tuesday night, our bill passed with tremendous bipartisan support, which will save taxpayers and patients nearly $600 million each year.

this is a big step in our movement towards a moral capitalism, where corporations work ethically and with a responsibility to the public's best interest. It's especially important in the wild-west market of prescription drugs, where corporate greed costs lives.

We've still got a lot of work to do to rein in pharmaceutical price-gouging and market manipulation, and to ensure our health care system puts patients first. But this week's victory shows – once again – that when we stand together, our movement's grassroots power will win.

Joe

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Posted on June 20, 2019.

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MEET JOE

Joe Kennedy III represents Massachusetts' 4th District in Congress. A principled and passionate advocate for economic, social, and racial justice, Joe is working to improve access to quality, affordable health care, and is determined to fight for all who call this country home.

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