March 13,2020

Grassley, Wyden Release CBO Score for Prescription Drug Bill

Independent CBO Says Prescription Drug Pricing Reduction Act Would Save Taxpayers $95 Billion, Reduce Out-of-Pocket Spending by $72 Billion, Reduce Premiums by $1 Billion

Washington Senate Finance Committee Chairman Chuck Grassley (R-Iowa) and Ranking Member Ron Wyden (D-Ore.) today released an analysis from the independent Congressional Budget Office (CBO) regarding the updated version of their bipartisan Prescription Drug Pricing Reduction Act
“Our bipartisan legislation saves billions in out-of-pocket expenses, premiums and taxpayer dollars,” Grassley said. “We’re continuing to build support for the bill and this information will be key in educating our colleagues about the many benefits of our approach. Americans are tired of talk and are ready for action. I urge both Democratic and Republican senators to look past politics and support the only path forward to lower prescription drug prices.”
“This score shows why taking action on major drug pricing reforms is so urgent,” Wyden said. “Taxpayers and seniors need to see substantially lower costs and a reduction in drug price increases, not changes on the margins.”
Information provided by the CBO to Grassley and Wyden can be found HERE