Capital District Times

House Republican leaders have voiced strong opposition to the Biden-Harris Administration's recent announcement of prescription drug price controls mandated by the "Inflation Reduction Act." The statement, issued by House Republican Conference Chairwoman Elise Stefanik, Speaker Mike Johnson, Majority Leader Steve Scalise, and Majority Whip Tom Emmer, criticizes the policy as detrimental to both patients and the pharmaceutical industry.

"Two years after the passage of Congressional Democrats’ failed Inflation Expansion Act, Americans continue to feel the disastrous effects the law has had across our economy," they stated. They argue that setting artificial prices for prescription drugs has led to fewer choices for patients, higher prices, and reduced innovation in healthcare.

The leaders further claim that this policy jeopardizes America's position as a global leader in pharmaceutical development. "Make no mistake, price fixing has failed in every sector and in every country where it has ever been tried," they said. According to them, instead of lowering costs for families as intended, the policy is increasing healthcare expenses and stifling medical innovation.

For more details on their statement: [Link](https://stefanik.house.gov/2024/8/house-gop-leadership-statement-on-the-biden-harris-administration-s-prescription-drug-price-fixing-scheme).