Horsford Focuses on Lower Prescription Costs for Nevada Families

WASHINGTON, D.C. – Congressman Steven Horsford (NV-04) spoke today at the Ways and Means Committee hearing about lowering healthcare costs, highlighting the need to reduce prescription drug prices for working families. 

Horsford, who introduced two bills last week to reduce prescription drug costs for Nevadans and working families nationwide, highlighted the legislation in his remarks.

The Lower Drug Costs for Families Act (H.R. 2554) penalizes pharmaceutical companies for unjustified price hikes while the Capping Prescription Costs Act (H.R. 2553) caps out-of-pocket costs at $2,000 for individuals and $4,000 for families.

“No family should have to choose between putting food on the table and affording lifesaving medication,” Rep. Horsford said. “These bills take a critical step toward making prescription drugs more affordable and accessible for all. They build on the progress we’ve made to lower costs and ensure that no Nevadan must sacrifice their health to make ends meet. Everyone deserves the peace of mind that comes with knowing they can care for their families and still afford the care they need.”

To hear full remarks click here. 

Background:

Congressional Democrats made historic progress in lowering prescription drug costs with the passage of the Inflation Reduction Act, marking a turning point in federal drug pricing policy. The law allows the federal government to negotiate lower drug prices, provides enhanced subsidies for health insurance marketplace coverage, caps annual out-of-pocket drug costs for Medicare beneficiaries, and prevents pharmaceutical companies from increasing Medicare prices faster than inflation. These changes are projected to save taxpayers $6 billion and Medicare beneficiaries $1.5 billion in out-of-pocket costs.

Lower Drug Costs for Families Act

The Lower Drug Costs for Families Act expands the Medicare Drug Inflation Rebate Program by including sales to privately insured patients when calculating rebates for drug manufacturers that raise prices faster than inflation. All rebate payments would then be returned to the Medicare Supplementary Medical Insurance Trust Fund, strengthening the program’s long-term solvency.

This legislation has been endorsed by the AFL-CIO, the American Federation of Teachers, National Education Association, Patients for Affordable Drugs Now, and the United Mine Workers of America. It was introduced by Sen. Catherine Cortez Mastro (D-NV) in March 2025.

Capping Prescription Costs Act

Over 60 percent of adults in the U.S. take at least one prescription drug, and more than 25 percent rely on four or more annually. Among this group, 37 percent reported difficulty affording their medications. According to a 2023 KFF poll, high drug prices led 1 in 3 adults to skip doses or go without their prescriptions, entirely worsening chronic conditions, increasing hospitalization, and posing serious risks to public health. 

The Capping Prescription Costs Act caps individual cost-sharing for prescription drugs to $2,000 annually and caps family cost-sharing for prescription drugs to $4,000 annually. These caps will apply to the 173 million individuals who have private health insurance. 

This legislation is endorsed by Families USA, First Focus Campaign for Children, and Protect Our Care. It was introduced by Sen. Raphael Warnock (D-GA) in February 2025. 

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