U.S. Rep. Barry Moore said he’s against the Lower Costs, More Transparency Act because it will add to the nation’s deficit.
The legislation requires hospitals and other health care providers to publish their prices.
“I support the effort to lower costs for patients and employers by requiring health insurers and pharmacy benefit managers to disclose negotiated drug rebates and discounts,” Moore (R-Enterprise) said, “but no one is truly saving money with legislation that adds $11 billion to the deficit over the next two years.”
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The bill passed The House Monday by a vote of 320-71 under suspension of the rules, a procedural move that speeds passage but requires a two-thirds majority.
“We cannot continue to ‘buy now and pay later’ when our country is $34 trillion in debt,” Moore continued. “I refuse to add to Biden’s out-of-control spending that is already imposing a 17 percent inflation tax on the American people.”
According to Moore, the legislation will add $11.645 billion to the deficit and uses budget gimmicks that may or may not come to fruition over the next decade to pay off the cost.
Yaffee is a contributing writer to Yellowhammer News and hosts “The Yaffee Program” weekdays 9-11 a.m. on WVNN. You can follow him on Twitter @Yaffee
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