Welch pushing for prescription drug pricing reform

MONTPELIER, Vt. (WCAX) - Vermont Congressman Peter Welch is spearheading a letter urging President Joe Biden to add prescription drug pricing reforms into his American Families Plan.

Welch is leading 20 other Democrats in the effort. They’re specifically asking that the American Families Plan include Medicare prescription drug negotiation. It’s an initiative that Welch has pushed for the past decade.

“The prescription drug market has been manipulated and exploited by pharmaceutical companies to boost their profits at the expense of consumers because the federal government has allowed them to,” wrote the Members. “The opportunity we have now is to take meaningful action to lower drug prices for the American people… We support the inclusion of prescription drug reform measures in the American Families Plan proposal, specifically Medicare prescription drug negotiation, as well as the other effective and comprehensive reforms, including but not limited to those in H.R. 3.”

Welch’s office says the Congressional Budget Office estimates the plan would save the federal government $456 billion over ten years.