Today, in a sharp step away from the free-market principles of Ronald Reagan and Milton Friedman, Govenor Schwarzenegger has entered into an alliance with the most liberal elements of our State Legislature to impose government price-controls on prescription drugs.
THIS IS HORRIBLE PUBLIC POLICY.
I cannot say it any better than Assembly Republican Leader George Plescia in the following statement just released from his office:
“Republicans agree that expanding access to prescription drugs is an important priority, but we have many serious concerns about this prescription drug plan.
“By forcing companies to cut drug prices through price controls, which is the practical effect of this measure, we will jeopardize the development of life-saving drugs for all 35 million people in our state, drive up health insurance costs for all insured Californians, and threaten the jobs of thousands of highly skilled workers in this critical industry.
“Using a heavy-handed approach to force drug companies to participate may have the unintended and dangerous consequence of taking away critical medications for vulnerable Californians who depend upon Medi-Cal.
“Also troubling is the proposal’s vague language that could extend eligibility for prescription drug discounts to illegal immigrants living in California. This misguided approach disrespects the millions of legal immigrants who have worked hard to achieve the American Dream, and provides a costly incentive for more illegal immigrants to locate here.
“Californians deserve the right to choose the prescription drug plan that is best for them – one that keeps the government bureaucrats out of their medicine cabinet and out of their doctor’s office. We believe market-based solutions, like health savings accounts, are the best approach to ensure that families have access to affordable prescription drugs.”
(Pardon any formatting issues – this is bring posted via PDA – Flash)