As Senators Joe Manchin (D - West Virginia) and Kyrsten Sinema (D - Arizona) betray their "moderate"…
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Image of the Day: As Senate Debates Latest Manchin-Schumer "Build Back Better" Iteration, Prescription Drug Prices Aren't the Inflationary Problem

As Senators Joe Manchin (D - West Virginia) and Kyrsten Sinema (D - Arizona) betray their "moderate" charade and join Senate Majority Leader Chuck Schumer's (D - New York) latest tax-and-spend monstrosity, we've highlighted the preposterousness of the claim that imposing drug price controls will in any way address out-of-control inflation.  Price controls will kill innovation, but do nothing to reduce inflation, because prescription drug prices simply aren't the problem.  Once again, economist Steve Moore offers a handy illustration of that truth:

[caption id="" align="alignleft" width="677"] Prescription Drug Costs Aren't the Problem[/caption]…[more]

August 05, 2022 • 01:26 PM

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Home Press Room CFIF Opposes Biden Administration Nomination of María Pagán as Ambassador to the World Trade Organization
CFIF Opposes Biden Administration Nomination of María Pagán as Ambassador to the World Trade Organization Print
Monday, March 07 2022

ALEXANDRIA, VA – President Biden has nominated María Pagán to serve as Ambassador to the World Trade Organization (WTO).  The Center for Individual Freedom (CFIF) staunchly opposes Ms. Pagán’s confirmation as she has been hostile to the protection of vital intellectual property rights, specifically with her advocacy in support of waiving provisions of the TRIPS Agreement for COVID vaccines, diagnostics and treatments.  As the U.S. Senate prepares to consider her confirmation, CFIF President Jeffrey Mazzella issued the following statement:  

"Strong intellectual property (IP) protections, including patent protections, explain why the United States stands unrivaled as the most inventive, prosperous and powerful nation in human history.  For example, the U.S. accounts for an astonishing two-thirds of all new drugs introduced worldwide, thus creating as many lifesaving drugs as the rest of the world combined.  That is the direct result of our nation’s legacy of strong patent and IP protections.  

"Perilously, however, Ms. Pagán and others – both domestically and within the WTO – support the U.S. surrendering its world-leading patent and IP protections on COVID vaccines, diagnostics, treatments and other innovations.  Such a move would needlessly and tragically undermine the very policies that prompted pharmaceutical innovators, leaving us less capable of addressing current and future diseases.  

"That much is not lost on the American people. In June, roughly eight in ten voters agreed that countries should honor their trade agreements with the U.S. protecting U.S. IP (83% Agree) and that the U.S. needs strong IP protections to encourage innovation (78%).

"Simply put, as we are reaching the tail end of the COVID-19 pandemic, now is not the time for the U.S. Senate to confirm a nominee who would be willing and able to negotiate away American intellectual property. For that reason, CFIF resolutely opposes Ms. Pagán’s nomination, and urges the U.S. Senate to reject her confirmation as Ambassador to the WTO.”  

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Liberty Poll   

Do you believe the tax increases and hundreds of billions of dollars in new spending in the so-called ‘Inflation Reduction Act of 2022’ - negotiated behind closed doors by Senators Manchin and Schumer - will increase or decrease inflation if passed?