House Speaker Johnson blasts Biden-Harris prescription drug 'price fixing scheme'

House Speaker Mike Johnson, R-La., and House GOP leaders on Thursday blasted the Biden-Harris administration's prescription drug "price fixing scheme" in response to the White House touting that the U.S. government negotiated lower prices for 10 drugs covered under Medicare.

“Two years after the passage of Congressional Democrats’ failed Inflation Expansion Act, Americans continue to feel the disastrous effects the law has had across our economy," Johnson and the GOP leaders said in a statement.

“Among the most egregious provisions of the law is the mandate from bureaucrats to artificially set prescription drug prices, which is already doing untold damage to the American health care system. Patients are seeing fewer choices, higher prices, and fewer cures, while the American pharmaceutical industry — which currently leads the world in the development of new medicines — is now in jeopardy of losing its competitive advantage on the rest of the world," he added.

Johnson, House Majority Leader Steve Scalise, R-La., House Majority Whip Tom Emmer, R-Okla, and House GOP Conference Chairwoman Elise Stefanik, R-N.Y., said price fixing is a failed idea.

“Make no mistake, price fixing has failed in every sector and in every country where it has ever been tried," they said. "The Biden-Harris Administration says it wants to lower prices for families, but their prescription drug price fixing scheme has accomplished just two things: driving up health care costs and crushing American innovation in medicine.”