If Trump Overturns the ACA, He Will Make Drug Prices Skyrocket
April 1, 2019
Trump broke his promises to lower prescription drug costs. Instead, he gave massive tax cuts to the pharmaceutical industry, who did nothing to actually lower prices. And now, Trump wants to overturn the ACA which would make drug prices skyrocket even more.
Trump gave massive tax breaks to pharmaceutical companies, who did nothing to lower prescription drug costs.
Axios: “Health care companies reported larger profits in the final quarter of 2018, compared with the same period in 2017, and the Republican tax overhaul helped pad their bottom lines, according to an Axios analysis of financial documents… Drug giant Pfizer received a $563 million tax benefit in the fourth quarter, and its corporate income tax rate in all of 2018 was just 6%.”
Now, Trump wants to overturn the ACA, which would serve as a major setback to lowering prescription drug costs.
Politico: “President Donald Trump wants to eliminate HIV in the U.S., contain the opioid crisis and lower the cost of prescription drugs — but all of those need Obamacare to be successful. And Trump just promised to kill it. … And Trump’s push to lower drug prices would use an innovation program that tests drug cost modeling — and was created by Obamacare.”
Meanwhile, Americans across the country continue to struggle with skyrocketing prescription drug costs that Trump promised he’d lower.
“It’s frustrating because this medicine is something I can’t go without. I need it to live.” – Illinois diabetic
“It’s not optional. My kids need (insulin) to live. … A one-month supply of Novalog is $606 — and that’s for one kid.” – Michigan mother of three diabetic children
“It was terrifying. You are looking at the vial and you realize you don’t have any left.” – California diabetic who couldn’t afford insulin
“I was in denial, and I needed help to pay for my medication because I no longer worked. The medicine is so high. One pill I take is $200, and the insulin is like $400 or $500 just for four pens.” – Louisiana diabetic
“I was spending $2,880 a month just to keep myself alive – that was more than I was making even working 50 hours a week.” – D.C. diabetic
“I was angry that I had to go to Mexico in the first place to get a drug that keeps me alive. I live right next to a [US pharmacy], yet had to travel 3,000 miles to another country to get affordable insulin.” – Pennsylvania diabetic