Obamacare & Price Controls Cede America’s Pharmaceutical Advantage to the CCP

For more information, please contact AAF Policy Director John Shelton at jshelton@advancingamericanfreedom.com

Obamacare & Price Controls Cede America’s

Pharmaceutical Advantage to the CCP

TOPLINE: America is the world leader of life-saving medical innovation. Sadly, proposals championed by progressives and even some Republicans would undermine our free market advantage. At the same time, Obamacare’s unmitigated failure is causing cost surges throughout the health care system. Unless these socialist policies are rejected, America’s health care system will deteriorate and we will cede our innovation advantage to China.

Obamacare is an Abject Failure. Premium Subsidies Make It Worse: • Since the passage of Obamacare, premiums for individual market plans outstripped inflation and doubled while Obamacare added more than $1.5T to the national debt.1 • Massive health insurance companies continue to see their profits grow, while smaller insurance companies go out of business. • ACA subsidies extend far beyond the poorest Americans (incl. those earning up to $500K).

Trade Policy Drives Prescription Drug Production into China's Arms:

• President Trump has proposed a 250% tariff on pharmaceuticals. • Last year, the US imported $210B in drugs and vaccines, mostly from the EU.

o That’s ~$525 billion in tariff taxes paid by American families.2 • While President Trump is considering punishing tariffs on America’s pharmaceutical industry, China is actively courting American companies. • China is throwing billions of dollars at American scientists and pharmaceutical companies to perform research and partner with Chinese companies.3

Proposed “Most Favored Nations” Plans Are Nothing More Than Socialist Price Controls: • The President’s plan to impose price controls on U.S. drugs based on foreign prices will mean significant reductions in American research and development.4 • Free market policies like facilitating direct-to-consumer sales are better solutions.

Deregulation is the Path to a More Innovative and Affordable Future: • The federal government and American pharmaceutical companies must partner together to deliver the best cures at the best prices for American families. • It should not take 500,000 pages for the FDA to approve a drug.

1 Paragon Health – “The Falsehoods of Obamacare” 2 Tax Foundation – “Trump Pharma Tariffs Would Raise Drug Prices for Americans” 3 Financial Times – “Big Pharma Is Increasingly Reliant On Chinese Biotech” 4 Advancing American Freedom – “Say YES to Medicaid Reform & NO to European Price Controls”

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