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Roger Hickey 202-270-0300
Jacob Sorrells: 301-807-1459
A large and growing number of Democratic activists and thinkers have joined together to pledge to fight for an economic agenda that can win the support of a broad majority of American voters. And they are demanding that politicians - including presidential candidates - tell voters where they stand on the 11 planks of the group's economic agenda. And they vow to share candidates' answers online.
The 90 well-known progressives - many of them leaders of the "resistance" to Trump and organizers of 2018 election victories - who wrote and signed the Agenda for Good Jobs, Sustainable Prosperity and Economic Justice represent a group that goes well beyond any one issue or activist network. They are a diverse mix of millennials, GenXers and Baby Boomers, and many of them have long histories of working on one or more of the 11 planks of their shared economic agenda. All agree that the country needs bold systemic change. And they believe that "for too long, leaders of both major political parties have allowed the wealthy and the giant corporations to exercise far too much influence over the political decisions that shape American life."
To talk with Pledge Signers, contact Jacob Sorrells: 301-807-1459
The full Pledge/Agenda has been signed by over 20,000 people.
One of the organizers of the group, Roger Hickey, Co-Director of the Campaign for America's Future, said the Pledge represents yet another indication that the country is moving in a progressive direction. And, he said, "This economic agenda is broadly popular with strong majorities of American voters." He cited a section of the group's new website which assembles recent polling showing great support for the 11 planks of the economic agenda. "Most Americans - base voters, a majority of independents, and many disillusioned Trump voters - all hard-hit by growing inequality and angry about a system they see as rigged by the wealthy - will vote in great numbers for candidates who campaign for a comprehensive plan for growth, investment and economic justice."
Another signer, Nancy Altman, President of Social Security Works, said, "Criticizing Trump is important - and there is plenty to criticize - but it's not enough. Visionary political leaders, FDR among them, have always fought for working Americans. The roadmap in the Pledge to Fight for Good Jobs, Sustainable Prosperity, and Economic Justice, of which I am a proud signer, shows the way."
Other Pledge signers include former Labor Secretary Robert Reich, economists Thea Lee, Robert Pollin and James K. Galbraith, African-American activists Rashad Robinson and Janet Dewart Bell and Dedrick Asante-Muhammad, feminist leaders Gloria Steinem, Nita Chaudhary and Toni Van Pelt, think tank directors Heather McGhee, Dorian Warren, Chuck Collins, and Angela Glover Blackwell, environmental leaders Bill McKibben, Annie Leonard and Michael Brune, labor leaders Leo Gerard, Larry Cohen, Randi Weingarten, Chris Shelton, and Bonnie Castillo, business leaders, like Leo Hindery Jr. and Charles Rodgers, activists and public intellectuals, like Manuel Pastor, Robert Borosage, Maria Echaveste, Jeff Faux, Heather Gautney, Eddie Glaude Jr., Zephyr Teachout, Richard Eskow, and Naomi Klein. Signers also include leaders of "resistance movement" groups, including MoveOn, People's Action, Democracy for America, Solidaire, Progressive Change Campaign Committee, Center for Popular Democracy Network, Public Citizen, Working Families Party, Ultra-Violet, Progressive Democrats of America, and Our Revolution.
As they release their agenda, signers made it clear that the group will not endorse candidates; however they will ask candidates - including candidates for president - to outline publicly their plan for addressing 11 planks of their Pledge. And make those answers public on a website that compares all the candidates.
They also make it clear that, no matter the outcome of the next elections, they will continue to honor their pledge to build a movement for economic change - a movement that all future office-holders will have to deal with.
Below is a simple version of the Pledge and its economic agenda - grouped into 5 broad themes - followed by the complete, detailed version that has now been signed by 20,000 people and counting.
We will (continue to) resist Trump. But resistance is not enough.
We therefore pledge that:
- We will fight for good jobs, sustainable prosperity and economic justice.
- We will work to build a movement that can make that agenda a reality.
Real change begins with a clear and coherent vision of a better America, and with citizens' movements dedicated to bringing that world into being. We offer this agenda for economic change in that spirit. (See full Agenda here - or below - view the prominent signers.)
I. Jobs for All - by Investing in Rebuilding America and a Green New Deal
II. Fight Inequality
III. A New Social Contract - for Income and Retirement Security - and Healthcare and Education for All
IV. Stop Corporations, Banks and the Wealthy from Controlling Our Economy and Our Democracy
V. A Global Economic Strategy for Working People
Full Agenda (below and online at this link):
Pledge to Fight for Good Jobs, Sustainable Prosperity and Economic Justice
I. Jobs for All - by Investing in Rebuilding America and a Green New Deal
1. Jobs for All - Created by Rebuilding America
We should commit ourselves to providing a high quality job (with good wages and benefits) for everyone willing and able to work. This cannot be achieved through tax cuts for the rich.
We support a large national investment program to put millions of American to work rebuilding America, creating useful employment for young people and for the millions of workers made unemployed by the deindustrialization of America.
The rebuilding and modernization of our basic infrastructure -- from roads to rail to water and energy systems --will stimulate robust growth and it will make our economy more productive. This initiative should be linked to public service jobs -- in everything from national service to cleaning up parks and cities. As a first step, the next administration should guarantee that every young person graduating from school can get a decent job.
2. Invest in a Green Economy
Catastrophic climate change is a clear and present danger. The United States should lead the global green industrial revolution that builds strong and resilient communities.
That requires strategic public investment in renewable energy and energy efficiency that will replace a carbon-based economy with a clean and sustainable energy system, creating jobs and opportunity, particularly in communities of color that have borne the worst consequences of toxic corporate practices.
Renewable energy and energy efficiency are already rapidly expanding. But we need a public commitment to meet clear goals to replace carbon-based energy sources, create new green energy industries, and meet global emission targets. The country that leads in these areas will capture jobs generated from markets across the world.
II. Fight Inequality
3. Empower Workers to Reduce Inequality
Inequality has reached new extremes. As the corporate elite pulls in incomes, perks, and tax breaks beyond the imagination of kings, wages for the rest of us have stagnated or declined - and more and more jobs have become contingent and part-time, with low pay and few benefits.
Robust economic growth and full employment, if we can achieve it, will force employers to bid up wages. But the key to reversing inequality is strong unions. We pledge to fight for the right of workers to form unions and bargain collectively for better wages and benefits. Guaranteed labor rights should be complemented by action to lift the floor under every worker by guaranteeing a living wage, paid sick and vacation days, and affordable health care. We must curb CEO compensation policies that give executives personal incentives to plunder their own companies. And we should use the tax system to reward companies that pay their workers a decent proportion to what they pay their executives.
4. Opportunity and Justice for All - With Focus on Communities Harmed by Racism
Full employment should provide opportunity for all. But special attention must be invested in those communities harmed by the legacy of Jim Crow, segregation, discrimination, deindustrialization, and destruction of the public sector.
Scapegoating on the basis of race, nationality, gender, or sexual orientation works to the detriment of all of us and to the benefit of those minions of corporate and Wall Street power who would divide us. Neglected urban and rural communities, working people victimized by the worst economic and social effects of neoliberalism must be given targeted attention and investment. Fundamental reform of our criminal justice system, an end to mass incarceration, and targeted investment in areas of need are all central to meeting the promise of economic justice.
Establishing a fair and humane immigration policy that stops the criminalization of communities of color should be a top priority. Our immigration policy should put the sanctity of families at the forefront--grounded in human, civil, and labor rights. We cannot allow our communities to be divided by anti-immigrant and xenophobic hysteria. And we must all work hard to end the racism and xenophobia that have historically been used to divide America's working class majority from working together to win economic justice and prosperity for all.
5. Guarantee Women's Economic Equality
Until 1920 most women could not vote in federal and local elections. And until very recently, women's economic rights -- to own a business or even control wealth or property -- were severely limited.
We have now gone from a society in which women were expected to handle home and family work to one where women are expected to earn money in the workplace -- and still take care of home, children, and family.
We should guarantee that women earn the same pay, protections and opportunities as men in the workplace and in society - including strengthened laws for reporting and preventing sexual harassment. Women must also be guaranteed affordable health care and the right to make choices about their own health and reproduction. Families must have access to high-quality child care, and all women must be guaranteed paid leave from the workplace for childbirth, illness and vacation, and a secure retirement -- with Social Security credit for work in the household.
III. A New Social Contract - for Income and Retirement Security--and Healthcare and Education for All
6. Medicare for All - And Shared Economic Security
Health care is a right, not a privilege. And that requires moving to a Medicare for All universal public health care system. Our fight to defend Obamacare from Trump and his allies is a crucial first step to a promise of quality health care for everyone. In addition, America needs a more robust social insurance system.
Every worker deserves a secure retirement-- and we will work to create new pension systems, while we secure Social Security by "lifting the cap" that now exempts wealthy people from paying their fair share of Social Security taxes. We will strengthen and expand America's shared security programs -- Social Security, Medicare, Medicaid, unemployment, food support and housing assistance. No one in America should go hungry or homeless. Greater shared security makes the economy more robust by making our society more fair - and giving all people the confidence that comes from solidarity.
7. High-Quality Public Education - Pre-K to University
Every young person must have the right to high-quality, free public education from preschool through college. Public education must be controlled by the public -- not by corporations -- and not by charter school hucksters who take public subsidies without assuming the responsibility to educate all kids, regardless of special needs.
This requires that every community, in partnership with the Federal Government must have the financing necessary to strengthen public schools, providing the necessary basics - preschool, smaller classes, summer and after-school programs, and skilled, well-paid teachers with rights on the job.
College education or skills training should be available without tuition at all public universities as a right of civic membership -- as was the policy in many states in the 1950s and 1960s. Education should be a public good that benefits all of society, not a commodity that indentures students to debt. We call for a national student debt jubilee that will cancel the debt burden imposed upon several generations seeking an education. Free college and debt cancellation will not only allow students and former students to live their lives without that burden, but it will also stimulate economic growth and unleash new civic activism.
IV. Stop Corporations, Banks and the Wealthy from Controlling Our Economy and Our Democracy
8. Make Corporations and the Wealthy Pay Their Fair Share
Our public investment/growth and justice agenda requires tax revenues. Yet the corporations and the rich do not pay their fair share in taxes--even though they pocket the greatest benefits from public investments.
Our tax code rigs the rules to favor the few. Multinationals pay lower tax rates than small domestic businesses. Billionaire investors pay lower rates than their secretaries. Top income tax rates have been lowered even as working people face ever-higher sales taxes and fees.
It is time for the rich and corporations to pay their fair share of taxes. It is time to shut down the tax havens and tax dodges that enable companies to avoid taxes altogether. We should lift the cap on Social Security taxes, so rich people pay the same percentage of their income as the rest of us. We should tax the income of investors at the same rates we tax income from work. We need clear, simple, progressive corporate and individual taxes, closing loopholes and exemptions. And a tax on financial transaction can produce significant revenues. A fair tax system will allow us to invest in an economy that will work for all.
9. Close Wall Street's Casino
Financial deregulation has devastated our economy, and it has protected banks that are too big to fail, too big to manage, and too big to jail.
The financial casino fosters ever more dangerous speculation, while investment in the real economy lags. The resulting booms and busts devastate families and small businesses.
In a new age of corporate concentration, American must revive the concept of anti-trust action to reduce corporate power. We need to break up the big banks, levy a speculation tax, and provide low-income families with safe and affordable banking services. We should crack down on payday lenders and other schemes that exploit vulnerable working families, offering instead safe and inexpensive banking via the postal system.
10. Rescue Democracy from the Special Interests
Big money has corrupted our democracy. Some might say democracy is not part of an economics agenda. But the same financial elites and corporations that buy and sell politicians use that political power to rig the economy so the top .01 percent gets massively richer while incomes decline for the rest of us.
The Citizens United decision gave corporations the right to spend unlimited money in politics. We pledge to reverse it, through a constitutional amendment, if necessary.We will stop the attack on voting rights which has escalated just as a new majority of people of color, young people and working women has begun to exercise new power. We will fight for public financing of elections that bans corporate and big money - and for electoral reforms, like public matching of small donations, so people's candidates can compete with the candidates of the plutocrats. Finally, we pledge to change national and local political party structures so that progressive candidates get a fair shake in the nominating process and in general elections. And we will build a new progressive majority that can take back our democracy and our economic system.
V. A Global Economic Strategy for Working Americans
11. A Global Economic Strategy for Working Americans
Our global trade and tax policies have been created for and by multinational companies. We must renegotiate trade deals and rethink tax policies that benefit the already-wealthy, while they encourage the export of whole American industries, drive down pay and worker protections, and harm the environment.
We need more but balanced trade, and global standards that protect the rights of workers, consumers and the environment.
That requires a crackdown on tax havens, currency manipulation, and deals that allow corporations to trample basic labor rights here and abroad. Finally, we need new policies that allow us to help existing US industries, by having our government buy American, policies that are now outlawed by trade deals. And we need active investment policies that grow new cutting-edge industries, like green energy systems. Our current national security policies commit us to policing the world. The result costs lives and drains public resources. We need a real security policy that makes military intervention a last resort, and focuses on global threats like climate change, poverty and inequality. We should reduce military budgets and properly support humanitarian programs.
The Campaign for America's Future is the strategy center for the progressive movement. Our goal is to forge the enduring progressive majority needed to realize the America of shared prosperity and equal opportunity that our country was meant to be.
"Young people are angry and fed up with watching President Biden cave to the fossil fuel industry time and time again," one activist said.
In the wake of Biden administration decisions like approving ConocoPhillips' Willow project and agreeing to fast-track the Mountain Valley Pipeline (MVP), climate organizations and frontline communities across the country are launching a week of action from June 8 to 11 to demand President Joe Biden honor his promise to be the climate president and end the era of fossil fuels for good.
The action week will include a Thursday rally and sit-in at the White House along with demonstrations at 65 other locations across the nation backed by 64 different Indigenous, climate, labor, and environmental justice groups.
"Young people are angry and fed up with watching President Biden cave to the fossil fuel industry time and time again," Zero Hour organizing director Magnolia Mead said in a statement. "We need an immediate transition to renewable energy to slow the climate crisis, and that's impossible while our president is still approving massive fossil fuel expansion. If President Biden cares at all for future generations and frontline communities, he must choose to end the era of fossil fuels."
Our public officials clearly lack the political will or backbone to protect our people and the planet. So we must take action."
The action week—whose organizers include Zero Hour, Sunrise, 350.org, the Indigenous Environmental Network, Fridays for Future, and the People vs. Fossil Fuels coalition—grew out of disappointment with Biden's Willow approval along with the desire to channel young people's online opposition to that project into direct action.
The sense of urgency only mounted when the debt-ceiling agreement, signed into law by Biden Saturday, included approving the MVP and weakening the National Environmental Policy Act (NEPA), which gives frontline communities a say in infrastructure projects.
The protest outside the White House, which begins at 2:00 pm ET, will specifically demand that Biden cancel the 300-mile fracked gas MVP through Virginia and West Virginia.
"We are still not deterred in our fight against the MVP and other such harmful projects," Maury Johnson, a landowner in the MVP's path and a member of Preserve Monroe and the POWHR (Protect Our Water, Heritage, & Rights) Coalition—who is helping to arrange transport for the rally—told Common Dreams. "Hope to see hundreds if not thousands join us in front of the White House on Thursday, June 8."
The new direct action group Climate Defiance has promised to risk arrest at the protest and called on everyone of conscience to join them.
\u201cThe President stabbed us in the back. He sold us out to fossil fuel CEOs. He forced upon us the Mountain Valley Pipeline, which is a death sentence for our generation.\u201d— Climate Defiance (@Climate Defiance) 1686004033
"Now is the time for climate action," Jay Waxse of Climate Defiance told Common Dreams. "Joe Biden and Joe Manchin think it's time for massive fossil fuel expansion, while our forests burn and skies fill with smoke. Our public officials clearly lack the political will or backbone to protect our people and the planet. So we must take action."
Waxse added that the group had chosen nonviolent direct action "to express to our branches of government that we won't be satisfied until we put an end to the expansion of new fossil fuels. And that means stopping the MVP now!"
As Washington D.C., along with most of the eastern U.S., chokes on unhealthy air from Canadian wildfires, Jamie Henn of Fossil Free Media said the White House protest would go ahead, though the organizers were taking health precautions including distributing N95 masks.
"This is 'exactly' why we have to take these sorts of actions," Henn tweeted.
\u201cThat said: we are absolutely going to take precautions to keep people healthy and safe, with KN95 masks and other precautions available for folks. \n\nThe fires are a real reminder of how climate, health, and disabilities all intersect, especially for the most vulnerable.\u201d— Jamie Henn (@Jamie Henn) 1686161011
For those who can't travel to D.C., organizers have provided a nationwide action map for the week as well as a toolkit explaining how to register an action.
Overall, the week has four main demands for Biden:
Local actions will also target specific fossil fuel projects, such as the Canadian-owned aging Line 5 pipeline that Indigenous advocates worry will spill oil into the Great Lakes.
"As a Bad River Band of Lake Superior Ojibwe member, I am calling on the Biden administration to shut down Line 5 immediately," Bad River Ojibwe activist Aurora Conley of the Anishinaabe Environmental Protection Alliance said in a statement.
"Our territories and water are in imminent danger, and we do not want to see irreversible damage to our land, water, and wild rice. We do not want our lifeways destroyed," Conley added.
In Seattle, meanwhile, protesters with XR Seattle, 350 Seattle, and other groups are meeting outside the Henry M. Jackson Federal Building at 12:00 pm PT Thursday with both national and local demands. In addition to calling on Biden to halt the MVP and restore NEPA, they also want Sen. Maria Cantwell (D-Wash.) to oppose the expansion of the GTN pipeline, a plan from TC Energy to pump an additional 150 million cubic feet of methane per day through the 1,354 mile long pipeline that runs through British Columbia, Idaho, Washington, and Oregon. The additional methane would add 3.47 million metric tons of greenhouse gasses into the atmosphere each year.
The Federal Energy Regulatory Commission is set to decide on the expansion June 15, 350 Seattle communications director Ben Jones told Common Dreams.
The action, he said, was motivated by "the combination of looming expansion of natural gas" along the West Coast "and approval of a deeply unpopular and strongly resisted pipeline out East."
Jones was also concerned about the gutting of NEPA, which has helped communities in the Pacific Northwest to fight off more than 20 proposals for oil and gas expansion in the region in the last 15 years.
"With gutting NEPA, that's some of the main avenues that community groups have for public comment or for advocacy," Jones said.
Nationwide, organizers hope that the coming week of action will be the first in a summer-long escalation leading up to U.N. Secretary General António Guterres' hosting of a global Climate Ambition Summit in New York City in September.
"Starting this June and leading up to September, we will be taking action with national and international partners to make it clear that siding with Big Oil is a political liability for Biden—and we, the people who got him elected, demand better," the coalition said in their toolkit.
"This is bullsh*t," said one critic. "This means that he’ll be sitting there forever, putting off filing his supposed disclosures, which will probably be more BS anyway."
U.S. Supreme Court Justice Clarence Thomas—who is under fire for lavish gifts he and his relatives received from billionaire Republican mega-donor Harlan Crow—has been granted a 90-day extension to file his 2022 financial disclosure report, multiple media outlets reported Wednesday.
Thomas, who according toBloomberg "typically files his financial disclosures by the May 15 deadline," requested an extension—as did Justice Samuel Alito—giving them more time to report their income, investments, gifts, and spousal salaries.
\u201cThis is bullshit, this means that he\u2019ll be sitting there forever, putting off filing his supposed disclosures, which will probably be more BS anyway. You can\u2019t expect much out of a country with a corrupt high court. https://t.co/9CCLvBLiPg\u201d— RC deWinter (@RC deWinter) 1686158901
As CNNreports:
The move means that any official information about Thomas' relationship with... Crow may not be released until after the end of the current Supreme Court term, and major rulings come down on election law, religious liberty, affirmative action, and student loans, among other issues.
The Supreme Court has been under a microscope this year as critics argue the justices are not doing enough to ensure transparency when it comes to ethics guidelines, and the late filings by Thomas and Alito could further fuel claims by watchdog groups and others that the justices are not taking seriously their concerns.
Public scrutiny and criticism of Thomas mounted in April after a bombshell ProPublicareport revealed that the right-wing justice "has repeatedly accepted and failed to disclose gifts and travel" from Crow, including private jet travel, luxury vacations, and private school tuition for a relative.
\u201cTo be fair, Clarence Thomas may not actually know how to fill one of these out properly.\n\nIs he a dependent of Harlan Crow? Is the dark money his wife gets considered a contribution or income? Are vacations with plaintiffs business trips? \n\nSo confusing.\nhttps://t.co/thxrgh0tUQ\u201d— Melanie D'Arrigo (@Melanie D'Arrigo) 1686161457
While Thomas has dismissed criticism by saying he benefited only from "personal hospitality from close personal friends" and that Crow "did not have business before the court," multiple investigations have disproven that assertion.
On Tuesday, The Leverprovided one example:
Late last month, in a 5-4 ruling on the Sackett v. Environmental Protection Agency case, the Supreme Court dramatically narrowed the scope of the 1972 Clean Water Act in an act of judicial activism so brazen, even the Donald Trump-appointed [Supreme Court Justice] Brett Kavanaugh accused the court of "rewriting" the law and failing to "stick to the text."
Thomas joined right-wing Justices Alito, Neil Gorsuch, Amy Coney Barrett, and Chief Justice John Roberts in the court's majority opinion.
On Tuesday, U.S. Senate Finance Committee Chair Ron Wyden (D-Ore.) said that "nothing is off the table"—including a subpoena—after Michael Bopp, a lawyer representing Crow, continued to duck questions about his largesse toward Thomas and his family.
"We must substantially lower the price that Medicare pays for prescription drugs like Leqembi," said the Vermont Independent, "and HHS has the power to do just that."
U.S. Sen. Bernie Sanders on Wednesday urged the Biden administration to use the "full extent" of its executive authority to lower the "outrageously high" price of a new Alzheimer's treatment being reviewed by federal regulators.
"Alzheimer's is a horrible disease," Sanders (I-Vt.), chair of the Senate Health, Education, Labor, and Pensions (HELP) Committee, wrote in a
letter to Xavier Becerra, secretary of the U.S. Department of Health and Human Services (HHS). "We must do everything possible to find a cure for the millions of people who suffer from it. But we cannot allow pharmaceutical companies to bankrupt Medicare and our federal government in the process."
At issue is Leqembi, a drug developed by Eisai, a Japanese pharmaceutical corporation, and Biogen, a U.S. company that previously sought to charge $56,000 for an annual supply of a different Alzheimer's treatment called Aduhelm. Following a pressure campaign led by Sanders and other drug affordability advocates, Biogen reduced the price of Aduhelm—whose efficacy and safety have been questioned by doctors—to $28,200 per year.
"A prescription drug is not effective if a patient who needs that drug cannot afford to take it."
"Despite concerns among the scientific community about the clinical benefit of Leqembi, its manufacturers... plan to charge $26,500 per year for this drug even though the Institute for Clinical and Economic Review, an independent non-profit organization, has estimated that this drug should be sold for as little as $8,900 per year based on its effectiveness," Sanders wrote.
"If just 10% of the 6.7 million older adults with Alzheimer's disease take Leqembi, the Kaiser Family Foundation has estimated that it would cost $17.8 billion—or nearly half of what Medicare Part B spent on all drugs in 2021," noted the Vermont Independent. "And this is just for one drug. As you know, many of the new drugs coming onto the market are even more expensive. This is not sustainable."
Moreover, "the introduction of Leqembi at this unconscionable price would be grossly unfair to seniors suffering from Alzheimer's disease who simply could not afford to pay the 20% co-payment of more than $5,000 a year for this drug," the progressive lawmaker continued. "With a median income of about $30,000 a year for seniors on Medicare the purchase of this one drug would amount to over one-sixth of their limited income."
"People with Alzheimer's disease deserve a drug that is safe, effective, and affordable," he added. "A prescription drug is not effective if a patient who needs that drug cannot afford to take it."
\u201cAlzheimer\u2019s is a horrible disease and we must find a cure. But we cannot allow pharmaceutical companies to bankrupt Medicare in the process. We must substantially lower the price that Medicare pays for prescription drugs like Leqembi, and HHS has the power to do just that.\u201d— Bernie Sanders (@Bernie Sanders) 1686152167
Sanders pointed out that the U.S. Food and Drug Administration (FDA) plans to convene an advisory meeting on Leqembi this week.
"As it considers whether to grant full approval of this drug, FDA has a special responsibility to restore the public trust after its inappropriate relationship with Biogen during the agency's review" of Aduhelm, wrote Sanders, alluding to evidence that the pharmaceutical firm and those tasked with regulating it collaborated before the medicine received a green light.
If the FDA approves Leqembi, HHS "must protect patients and substantially reduce the price," Sanders stressed.
The senator went on the remind Becerra—who routinely expressed support for invoking executive authority to rein in soaring drug prices before he joined the White House—of the powers at his disposal:
Under current law, Medicare has the responsibility to determine whether Leqembi is "reasonable and necessary" for the treatment of Alzheimer's. In my view, charging an outrageously high price for this drug is not reasonable. It will prevent seniors who need this drug from receiving treatment. It will undermine the finances of Medicare. And it will increase the premiums of over 60 million seniors who receive Medicare whether they need to take this drug or not.
If Biogen and Eisai refuse to lower the price of this drug, HHS has the authority (under 28 U.S.C. Section 1498) to break the patent monopoly on Leqembi. Further, HHS can direct the Center for Medicare and Medicaid Innovation to launch a new demonstration project that would limit payment for Leqembi to reflect the drug's actual benefit.
Sanders told Becerra that he and other HELP committee members "look forward to discussing this important issue with you as soon as possible." The panel "would like to know how Biogen and Eisai came up with a cost of $26,500 and what the cost of this drug will mean to the finances of Medicare," Sanders wrote. It "would also like your estimate as to how much Medicare premiums will go up for all seniors if Biogen and Eisai are allowed to charge $26,500 for Leqembi, as well as how many seniors who need this drug would not be able to afford to pay a 20% co-payment for it."
Sanders' letter comes one day after the pharmaceutical giant Merck sued the Biden administration over an Inflation Reduction Act provision that empowers Medicare to directly negotiate the prices of a small number of ultra-expensive prescription medicines with drugmakers.
It also comes less than a month after Sanders condemned Big Pharma CEOs for years of deadly price gouging and reiterated the need to make all prescription drugs affordable at a HELP committee hearing.
"I know that our guests from the drug companies will tell us how much it costs to develop a new drug and how often the research for new cures is not successful," Sanders said in May. "I get that. But what they are going to have to explain to us is why, over the past decade, 14 major pharmaceutical companies... spent $747 billion on stock buybacks and dividends."
"They will also have to explain how as an entire industry pharma spent $8.5 billion on lobbying and over $745 million on campaign contributions over the past 25 years to get Congress to do its bidding," Sanders continued. "Unbelievably, last year, drug companies hired over 1,700 lobbyists including the former congressional leaders of both major political parties—that's over three pharmaceutical industry lobbyists for every member of Congress."
As Sanders put it, "That could well explain why we pay the highest prices for prescription drugs in the world and why today drug companies can set the price of new drugs at any level they wish."
"While Americans pay outrageously high prices for prescription drugs, the pharmaceutical industry and the [pharmacy benefit managers] make enormous profits," the lawmaker lamented. "In 2021, 10 major pharmaceutical companies in America made over $100 billion in profits—a 137% increase from the previous year. The 50 top executives in these companies received over $1.9 billion in total compensation in 2021 and are in line to receive billions more in golden parachutes once they leave their companies."
"In other words, Americans die, get sicker than they should, and go bankrupt because they cannot afford the outrageous cost of prescription drugs, while the drug companies and the PBMs make huge profits," he added. "That has got to change and this committee is going to do everything possible to bring about that change."