Bad news for seniors who need prescription drugs

Last November, President Donald Trump announced that a new NAFTA, the U.S.-Canada-Mexico Free Trade Agreement (USMCA), was signed by all three countries. Congress might vote on the agreement soon. Unfortunately, the USMCA agreement as written could harm Chicagoland seniors struggling to pay for their prescription drugs.

Americans spend more than $1,000 annually on medications, and House members who vote yes for the USMCA without changing the prescription drug provisions would worsen the problem. Each year I pay more out of pocket for my medications.

New biologic drugs that treat major ailments such as diabetes, rheumatoid arthritis and cancer are a big driver of spending on prescription drugs. American brand-name drugmakers have a legal monopoly to sell these drugs. Congressional Democrats have proposed reducing the length of that protected monopoly period, from twelve years to seven, but the USMCA would prevent that.

According to a study by AARP, the average price of brand-name drugs widely used by older Americans increased at four times the rate of inflation in 2017. Congress must ensure the USMCA encourages competition between costly brand-name drugs and low-cost generics.

Several organizations, including the Alliance for Retired Americans, sent a letter to the U.S. trade representative encouraging him to revisit portions of the agreement that protect expensive brand-name drugs. The Illinois chapter of the Alliance represents 240,000 retired Illinoisans who stand to lose if the USMCA locks in high prescription drug costs.

Congress can press to renegotiate these types of deals before, as it did in 2007. Our representative, Congressman Brad Schneider, needs to stand up for the thousands of his constituents who cannot afford their prescriptions.

Joseph Hamlett

Beach Park