President Trump should take real steps to actually lower drug prices, including ... working with Congressional Democrats to pass drug pricing reforms.
Work with Congressional Democrats to pass drug pricing reforms.
Occurrences
his bipartisan Fair Prescription Drug Prices for Americans Act would require pharmaceutical companies to charge Americans what other countries pay for medications, and he said he would "work actively and aggressively" to make Most Favored Nation drug pricing happen if it came up
Evidence
On March 12, 2025, Senator Peter Welch, along with Senators Roger Marshall, Mark Warner, and Bill Cassidy, introduced the bipartisan Protecting Pharmacies in Medicaid Act. This legislation aims to limit abusive pricing practices by pharmacy benefit managers (PBMs), specifically targeting 'spread pricing,' where PBMs charge Medicaid more than they pay pharmacies for a drug. The bill is projected to save Medicaid an estimated $2 billion over 10 years.
On May 14, 2025, Senator Peter Welch, alongside Senators Jeff Merkley, Bernie Sanders, and Representative Debbie Dingell, introduced the End Price Gouging for Medications Act. This bicameral bill seeks to lower prescription drug costs by requiring drug companies to offer medications in the U.S. at prices no higher than the lowest price in twelve other developed countries.
On August 29, 2023, Senator Peter Welch applauded the Biden Administration's announcement of the first 10 prescription drugs selected for Medicare price negotiations, a provision of the Inflation Reduction Act that Welch championed. This initiative aims to lower drug costs for seniors and is expected to generate significant savings.
On June 6, 2023, Senator Peter Welch responded to Merck's lawsuit aiming to block drug price negotiation provisions in the Inflation Reduction Act. Welch criticized the lawsuit as prioritizing profits over the health of working families and reaffirmed his commitment to preserving these provisions to help Americans afford necessary medications.
On April 16, 2025, Senator Peter Welch released a statement condemning President Trump's Executive Order targeting the Medicare Drug Price Negotiation Program, a key feature of the Inflation Reduction Act. Welch criticized the order as a concession to Big Pharma and pledged to fight to protect Medicare's negotiating powers.
On July 15, 2025, Senator Peter Welch, along with Senators Josh Hawley and Amy Klobuchar, introduced the Eliminating Thickets of Exclusionary and Collusive (ETEC) Practices Act. This bipartisan legislation aims to streamline drug patent litigation, facilitating the entry of generic and biosimilar drugs into the market to increase competition and lower prescription drug prices.
On July 23, 2025, Senator Peter Welch introduced the 340B Pharmaceutical Access To Invest in Essential, Needed Treatments & Support (PATIENTS) Act. This legislation aims to protect the 340B drug pricing program, ensuring that safety-net providers can continue to purchase outpatient prescription drugs at reduced prices to serve vulnerable populations.
On April 3, 2023, Senators Peter Welch and Roger Marshall introduced the Drug Price Transparency in Medicaid Act of 2023. This bipartisan legislation seeks to limit abusive pricing practices by pharmacy benefit managers (PBMs), including 'spread pricing,' to reduce costs for Medicaid and protect independent pharmacies.
Assessments
Multiple legislative and advocacy efforts by Senator Welch show sustained action to pass and protect drug pricing reforms. He co-sponsored and introduced numerous relevant bills, advocated for the implementation of Medicare drug price negotiations under the Inflation Reduction Act, and acted to safeguard these reforms in the face of legal and executive threats. Some promises are ongoing, but substantial components of the pledge have been delivered during the same term.