Welch Pitches Plan to Save $160 Billion and Strengthen Medicare - FOX44 - Burlington / Plattsburgh News, Weather & Sports

Welch Pitches Plan to Save $160 Billion and Strengthen Medicare

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BENNINGTON, Vt. -

U.S. Rep. Peter Welch (D-Vt.) is pushing to save nearly $160 billion and strengthen Medicare.

According to a press release, Welch outlined his Medicare Prescription Drug Price Negotiation Act to seniors at Bennington Project Independence.

"At a time when we're working to get the nation's fiscal house in order, putting the federal government's purchasing power to work to save money is simply common sense. Paying retail rates for wholesale purchases is a good deal for the pharmaceutical company but a bad deal for the taxpayer," Welch said. "It's long past time we put an end to this misguided policy."

Taxpayers fund more than three-quarters of the Medicare Part D drug benefit plan, which serves 28 million seniors.

The press release says during the debate over health care reform in 2010, Welch successfully included a provision identical to the Medicare Prescription Drug Price Negotiation Act in the House version of health care reform. However, the provision was not included in the final law.

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