Cortez Masto Cosponsors Legislation to Combat Rising Prescription Costs for Taxpayers
Washington, D.C. – U.S. Senator Catherine Cortez Masto (D-Nev.) cosponsored The Right Rebate Act, legislation to protect American taxpayers from drug companies overcharging Medicaid for prescription drugs. This legislation, introduced by Senators Ron Wyden (D-Ore.) and Chuck Grassley (R-Iowa), closes a Medicaid loophole that has permitted pharmaceutical manufacturers to misclassify their drugs, allowing them to grossly overcharge Medicaid for life-saving medicines. The legislation also strengthens congressional oversight of drug companies by requiring the Department of Health and Human Services (HHS) to monitor and impose fines on manufacturers who deliberately misclassify their products.
“The rising costs of prescription medicines is one of the biggest concerns I hear from Nevadans. We cannot allow pharmaceutical companies to gouge patients and overcharge taxpayers through Medicaid by intentionally misclassifying prescription drugs. I’m proud to sponsor this bill and hold pharmaceutical companies accountable so that we can strengthen Medicaid and protect the affordability of prescription drugs for Nevadans, and all Americans.”
Next Release Previous Release