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U.S. Sen. Tammy Baldwin, D-Wis., has backed efforts to reduce prescription drug prices:

• Cosponsored 2024 legislation to cap annual out-of-pocket costs at $2,000 per individual and $4,000 per family for people with private health insurance. No action has been taken.
• Sent letters in January 2024 along with other senators to drug manufacturers demanding information on “exorbitant” asthma inhaler prices.
• Sponsored 2023 legislation to require drug manufacturers to provide details of and justification for certain price increases. No action has been taken.
• Supported the Inflation Reduction Act, which became law in 2022. It requires Medicare to negotiate the price of certain drugs.

Baldwin’s challenger in the Nov. 5, 2024, election, Republican Eric Hovde, stated that Baldwin “always talks about, ‘I’m going to lower drug prices.’ She’s done nothing on that.”

Average U.S. prescription drug prices are 2.78 times higher than in 33 other nations, the RAND think tank reported in February.

This fact brief is responsive to conversations such as this one.

Sources

U.S. Congress: S.4671 – Capping Prescription Costs Act of 2024

U.S. Congress: S.4671 – Sponsors

U.S. Congress: S.4671 – Action

WisBusiness: Baldwin, other senators investigating drug companies’ asthma inhaler pricing

U.S. Congress: S.935 – Fair Accountability and Innovative Research Drug Pricing Act of 2023

U.S. Congress: S.935 – Action

U.S. Senate: U.S. Senate: U.S. Senate Roll Call Votes 117th Congress

U.S. Congress: H.R.5376 – Inflation Reduction Act of 2022 – Action

U.S. Congress: H.R.5376 – Inflation Reduction Act of 2022

Google Drive: 20241013 Hovde – 1280AM The Closer.mp4

RAND: Prescription Drug Prices in the U.S. Are 2.78 Times Those in Other Countries