Ranking Member Krishnamoorthi Demands Answers from Trump Administration on Billions in Higher Drug Costs Under “One Big Beautiful Bill”
WASHINGTON – Today, Congressman Raja Krishnamoorthi (D-IL), Ranking Member of the Oversight Subcommittee on Health Care and Financial Services, sent a letter to Centers for Medicare and Medicaid Services (CMS) Administrator Mehmet Oz demanding answers on how the Trump administration plans to lower prescription drug prices after passing legislation that will delay and exempt costly drugs from Medicare price negotiations, a move the nonpartisan Congressional Budget Office (CBO) says will cost taxpayers at least $5 billion over the next decade.
“Americans are deeply concerned by the cost of prescription medications. The vast majority—including 70% of those who voted for Donald Trump—want to see costs come down,” Krishnamoorthi wrote in the letter. “President Trump’s One Big Beautiful Bill will delay or rescind CMS’s ability to negotiate the prices of costly, life-saving drugs and will actually increase the cost of prescription drugs.”
Under the Inflation Reduction Act of 2022, Medicare gained the power to annually negotiate certain high-cost drugs, saving taxpayers tens of billions and reducing seniors’ out-of-pocket costs. But Congressman Krishnamoorthi warns that the Trump Administration’s new law, signed in July, guts those provisions by delaying negotiations for some of the most expensive drugs and exempting others entirely, including advanced cancer treatments.
“The Trump administration has gifted drug companies higher profit margins while stripping health care access from millions,” Krishnamoorthi said, noting the bill’s nearly $1 trillion in Medicaid cuts could leave more than 15 million Americans without coverage, according to CBO analysis.
The congressman also criticized the legislation for failing to address the anti-competitive practices of Pharmacy Benefit Managers (PBMs), despite President Trump’s earlier acknowledgment of the problem. “Addressing these PBM practices is a commonsense, bipartisan reform that could lower drug prices without cutting coverage or handing giveaways to Big Pharma,” Congressman Krishnamoorthi wrote.
In his letter, Congressman Krishnamoorthi requested CMS provide detailed information by August 29, 2025, including:
How the administration plans to achieve Trump’s claim of reducing drug prices by “500% to 1500%”
All communications with pharmaceutical companies regarding expanded Medicare drug negotiation exemptions
Plans to assist patients who cannot afford drugs now excluded from negotiations
All actionable steps to lower costs through PBM reform