JCNF Calls on Congress to Advance Bipartisan Drug Pricing Reform
Washington, D.C. (January 29, 2024)—Today, the Job Creators Network Foundation (JCNF) is calling on Congress to advance bipartisan drug pricing policies that enjoy considerable momentum. The reforms largely center around Pharmacy Benefit Managers (PBMs), which act as the middlemen of the drug supply chain. A flurry of proposed legislation would help correct PBM behavior that contributes to inflationary pressures for medicine.
The efforts align with the American Small Business Prosperity Plan, an eight-point policy blueprint for Congress to follow to empower Main Street. It’s also part of JCNF’s more in-depth Healthcare for You framework.
Notably, the Lower Costs, More Transparency Act—which passed the House at the end of 2023—would inject transparency into the drug supply chain. And the Delinking Revenue from Unfair Gouging Act would strip adverse incentives from the pharmaceutical market that currently favor higher price-point medications over more affordable alternatives. Under the current system, PBMs make bigger profits off more expensive medication, and are therefore motivated to push the products onto patients.
Elaine Parker, President of the Job Creators Network Foundation, released the following statement:
“Significant bipartisan support is rare in Washington these days, but a strong coalition of Republicans and Democrats have circled the wagons around a series of policies that could improve healthcare for Americans struggling to afford rising medicine costs. For years, the middlemen of the drug supply chain have muddied the waters of the prescription drug market, compromising transparency and patient choice. Policymakers now have a window to act, and they should take it.”