September 30, 2022

CBO Confirms Competition & Transparency Lowers Health Care Prices

House Budget Committee Republican Leader Jason Smith (MO-08) released the following statement after the Congressional Budget Office (CBO) confirmed in a report published yesterday that policies which foster competition and transparency will yield lower health care costs for patients and deliver savings for taxpayers in the process:

“Today’s CBO report confirms that choice, competition, and transparency – key pillars of Republicans’ Commitment to America – are drivers behind lowering health care costs for patients. Washington Democrats, on the other hand, have spent the last two years pushing policies that would expand government-run health care, stifle innovation in the pursuit of new cures, and raise costs for millions. The American people want more freedom and personal control – not less – when it comes to their health care decisions.

“Encouraging competition and transparency among hospitals, insurers and providers will allow market forces to best deliver for patients. At the same time, the Democrat-favored government price setting approach would give unelected government bureaucrats more command and control over our personal health decisions on their path to Medicare-for-All. Together, Republicans will deliver a future that’s built on freedom by empowering patients and returning them to the center of our health care system where they belong.”

Additional background:

Smith Op-Ed: The Right to Know: Shining a Light on Health Care Costs Press Release: Congressional Scorekeeper Confirms Democrats’ Reconciliation Bill Raises Drug Prices