TAPP Signs Onto Coalition Letter to End IRA Prescription Drug Price Controls

The Trade Alliance to Promote Prosperity joined more than 40 organizations in writing to Congress and urging the members to repeal the prescription drug price controls in the IRA.

In the letter, the coalition stated, "Health care provisions in the Inflation Reduction Act have put America one step closer to socialized medicine. If left in place, these provisions will make the American economy less competitive and leave America sicker."

The letter reiterated arguments that TAPP has made many times, "Time and time again, price controls have been shown to suppress innovation by distorting and interfering with supply and demand and other forces that make markets and capitalism work. Price controls on drugs lead to shortages in the short term and fewer innovative new drugs becoming available in the longer term."

Read the full letter here.