President Trump urged lawmakers to come up with legislation to lower prescription drug prices — a demand that prompted some Democratic lawmakers to stand up with three fingers in the air.
The three fingers were for HR 3. That bill — now titled the Elijah E. Cummings Lower Drug Costs Now Act, in memory of the Maryland congressman who passed away last year — would empower the Health & Human Services secretary to negotiate annually for the best prices on at least 50 costly brand-name drugs and up to 250 medications, including insulin. Prices would be capped at 1.2 times their cost in certain other developed countries.
And it would require drug companies to pay a rebate to the federal government if their prices increase faster than inflation. The plan would impact drug prices for all Americans, not just Medicare enrollees.
Watch the moment:
CORRECTION: This post has been updated to reflect when Elijah Cummings died. It was October 2019.