This strategy is a blueprint for competitiveness that will unleash the economy and manufacturing’s outsized multiplier effect. Importantly, manufacturers’ aspirations—the four goals laid out in the pages that follow—are ones that all Americans who want to maintain our country’s economic advantage can rally around.
01/12/07 - 07-11
FOR IMMEDIATE RELEASE
KAT SNODGRASS (202) 637-3094; JERI GILLESPIE (202) 637-3127
“Competition Key to Keeping Costs Low” says Gillespie
WASHINGTON, D.C., January 12, 2006 – Responding to House passage (255-170) of a bill requiring the federal government to negotiate prescription drug pricing, NAM Vice President of Human Resources Policy Jeri Gillespie warned that such a mandated program would have uncertain effects for the millions of American seniors who depend on affordable prescription drugs.
“The Medicare Part D program – the success of which is evident through lower drug pricing, reduced premiums and significant customer satisfaction – does not need rescuing,” Gillespie explained.
H.R. 4, the Medicare Prescription Drug Price Negotiation Act of 2007, would require the Secretary of Health and Human Services to negotiate lower covered part D drug prices on behalf of Medicare beneficiaries.
In pushing for the bill, House leaders have touted the Veteran Affairs as a model for government intervention. Gillespie explained that while costs were lower for Veterans, it was in part because of the limited scope of drugs available. “America’s seniors deserve affordable prescriptions, but not at the expense of life-saving drugs and quality health care coverage,” Gillespie added.
“Lawmakers in support of this legislation are banking on an unproven theory and setting the stage for further government bureaucracy,” Gillespie concluded.
According to recent Administration projections the cost of Medicare Part D system is $189 billion lower then originally estimated. In addition, average monthly premiums for beneficiaries have dropped from $37 to $22.
The National Association of Manufacturers is the nation’s largest industrial trade association, representing small and large manufacturers in every industrial sector and in all 50 states. Headquartered in Washington, D.C., the NAM has 11 additional offices across the country. Visit the NAM’s award-winning web site at www.nam.org for more information about manufacturing and the economy.