🚨NEW DRUG PRICING REPORT FROM @OversightDems

Our shocking findings confirm what patients have always known: Our system is unfair, unsustainable, and COSTS TAXPAYERS BILLIONS in lost savings.

Now we have Big Pharma's internal docs that show just how bad it is! 👇 1/7
Over just a 5 year period, if Medicare had secured the same deals as other federal health care programs that CAN NEGOTIATE, taxpayers would have saved $25.1B on JUST SEVEN DRUGS. 2/7
When we looked at just 3 frequently used insulin products over a 7 year period, we found that Medicare could have saved more than $16.7 BILLION. 3/7
The internal docs we obtained reveal that drug companies relied on Medicare sales to drive revenues and profits. For example: 4/7
And Big Pharma's internal docs show that execs targeted the US for price increases while maintaining or lowering prices in the rest of the world—in large part because of Medicare’s inability to negotiate.

More examples: 5/7
Now, Big Pharma claims that any price reform would come at the expense of innovation, but our previous investigation found that this claim is drastically overblown. The world's top drug companies spent $56B more on stock buybacks and dividends between 2016 & 2020 than on R&D. 6/7
This is life and death for so many people in this country. WE NEED REFORM THAT EMPOWERS MEDICARE TO NEGOTIATE DIRECTLY w/ BIG PHARMA.

We need the #BuildBackBetterAct.

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More from @RepMaloney

10 Sep
Let’s chat #BuildBackBetter! @POTUS ‘s Build Back Better Agenda is positively impacting American lives from education reform, to climate priorities, and beyond. Take a look with me at some of its key highlights so far: 1/7 🧵
Up first – childcare! @POTUS has already implemented the largest Child Tax Credit ever through the American Rescue plan, providing relief to working families. Most families are automatically receiving monthly payments of $250 or $300 per child! 2/7 whitehouse.gov/child-tax-cred…
The Build Back Better Agenda also emphasizes healthcare. @POTUS is working to expand Medicare benefits, reduce prescription drug costs, and close the Medicaid coverage gap. 3/7
Read 7 tweets
2 Sep
My heart breaks for the families who lost loved ones in last night's storm.

It is clear that climate change is here and we must change to prevent future tragedies like this one.
For those recovering from last nights storm, here are some resources:

To report flooding on a street or sidewalk so that NYC DEP can address it please visit: portal.311.nyc.gov/article/?kanum…
You can report City trees and branches that have fallen to the ground on public property to the Department of Parks and Recreation (DPR). To request tree removal: portal.311.nyc.gov/article/?kanum…
Read 6 tweets
14 Jul
I am proud to announce that I have secured $6.3M for #NY12 in House appropriations legislation!

The organizations receiving this funding are integral to our community, and I’m thrilled to be able to support their work.
maloney.house.gov/media-center/p…
First up, @TheFloatingHosp is slated to receive $925,000 to fund health care and IT upgrades to better meet the needs of the community, especially the vulnerable populations that rely on them for care.
Second, @thealliance_nyc is slated to receive $1 million for their PATH to Jobs program, which provides career readiness and job placement services for low-income NYers living with chronic health conditions, and includes vocational education, training, and benefits counseling.
Read 11 tweets
14 Jul
Last year @SenWarren, @RepRobinKelly, & I requested @USGAO conduct a comprehensive study on the healthcare costs of gun violence to get a better picture of the price of inaction.

Today, Rep. Kelly, @SenMarkey, @RepCori, gun safety advocates, and I are releasing the results. 1/8
THE BIG TAKEAWAY: we spend at least $1 BILLION/ year on just the initial hospital costs of gun violence.

We still don't know the longer-term costs including readmissions, surgery, physical rehab, long-term care, mental health crisis care, counseling, and more. 2/8
WHAT'S MORE: >60% of the $1B initial hospital cost of gun violence is borne by public health programs.

Roughly ½ of that falls on Medicaid, the health care safety net for people with lower incomes. 3/8
Read 9 tweets
8 Jul
Big Pharma's favorite talking point is that without the high prices they charge, they would not be able to produce life-saving drugs.

This is a lie.

Our 2-year @OversightDems investigation, started by the late Chairman Cummings, now has the internal docs showing why 🧵👇
1. From 2016-2020, the 14 biggest drug makers spent $56 BILLION more on stock buybacks and dividends than R&D.

$56B more to enrich execs & investors instead of developing & improving medications.

They're projected to spend $1.15 trillion on buybacks & dividends from 2020-2029.
2. When you and I think "research & development," we think about innovation to produce new drugs or improve existing ones.

But, many of these companies spent significant portions of their "R&D" budgets on suppressing generic or biosimilar versions of their drugs from coming out.
Read 8 tweets
23 Jun
Let’s take another look at some of the emails @OversightDems uncovered in our investigation of Trump's campaign to pressure the DOJ to overturn the election:

Mark Meadows, Italian vote changing satellites, Rudy Giuliani, and the Acting Attorney General🤯🧵
On Dec 30, 2020, Meadows emailed then-Acting Attorney General Rosen a translation of a document from an individual in Italy claiming to have “direct knowledge” of a plot by which American electoral data was changed “in coordination with senior US intelligence officials (CIA)” 2/7 Image
This data was then supposedly loaded onto “military satellites.” The individual claimed that the true data, as well as sources within the conservative wing of the Italian secret service, confirmed that Donald Trump was “clearly the winner” of the 2020 election. 3/7
Read 7 tweets

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