River Region Times

Washington, D.C. - Representative Barry Moore has come out against the Lower Costs, More Transparency Act, also known as H.R.5378, citing concerns over its impact on the national deficit. The legislation, if passed, would add a staggering $11.645 billion to the deficit over the next two years.

In a statement released to the press, Moore expressed his support for the goal of lowering healthcare costs for patients and employers. He specifically highlighted the provisions of the bill that require health insurers and pharmacy benefit managers to disclose negotiated drug rebates and discounts. However, he argued that the bill's financial implications are unacceptable.

"No one is truly saving money with legislation that adds $11 billion to the deficit over the next two years," Moore stated. He emphasized the importance of fiscal responsibility, particularly in light of the country's staggering $34 trillion debt. Moore adamantly opposes adding to the already "out-of-control spending" that he believes President Biden's administration is engaged in.

Furthermore, Moore pointed out that the current spending policies are already imposing a "17 percent inflation tax" on the American people. He believes that continuing to "buy now and pay later" is not a sustainable approach to the country's financial stability.

Moore's opposition to H.R.5378 is rooted in his concerns about the long-term consequences of adding to the deficit. While he acknowledges the need to address rising healthcare costs, he believes that it should be done in a fiscally responsible manner, one that does not burden future generations with additional debt.

As the debate over the Lower Costs, More Transparency Act continues, Moore's stance highlights the ongoing divide in Congress over how to effectively address healthcare costs while also maintaining the country's financial health.

For additional details, please follow this link: https://barrymoore.house.gov/media/press-releases/rep-barry-moore-opposes-healthcare-bill-adds-11-billion-us-deficit