, Senator Lee, our staff, his staff who have worked well together. As well as Senator Grassley who is with us. Who has been such a leader when it comes to this competition issues. Thank you for being here, Senator Grassley. This is the latest in the Competition Policy Committee hearings, examining american monopoly problems. Today, we will focus on the lack of competition in our Prescription Drug markets. The stakes could not be higher. According to the center for care services, Health Care Spending accounted for 17. 7 percent of growth in 2019. More than 16 of the american economy. That is projected to rise to 19. 7 by 2028. Rising Prescription Drug prices is a key driver in those numbers. But, it is not just about gdp. It is also about the all too real human cost we will hear about today. For some, the ability to access Prescription Drugs is what enables them to work, care for their families and loved ones. To just get through the day without excruciating pain. For others, access to
This hearing runs two hours and 15 minutes. [inaudible] [inaudible conversations] [inaudible conversations] [inaudible conversations] i want to thank my colleague and our staff and his staff who work very well together as well as Senator Grassley who has been such a leader when it comes to these competition Issues Way before ites was cool so thank yu for being here, Senator Grassley. This is the latest in the Subcommittee Series of hearings examining americas monopoly problem. Today we are going to focus on the lack of competition in the Prescription Drug markets. The stakes could not be higher according to the centers of Medicaid And Medicare services, Healthcare Spending accounted for 17. 7 of u. S. Gross domestic products in 2019. That is more than 16 of the american economy. That is projected to rise to 19. 7 by 2028. And rising Prescription Drug prices is a key driver in those numbers but it isnt just about gdp. Its also about the all too real human cost that we will hear about to
, Senator Lee, our staff, his staff who have worked well together. As well as Senator Grassley who is with us. Who has been such a leader when it comes to this competition issues. Thank you for being here, Senator Grassley. This is the latest in the Competition Policy Committee hearings, examining american monopoly problems. Today, we will focus on the lack of competition in our Prescription Drug markets. The stakes could not be higher. According to the center for care services, Health Care Spending accounted for 17. 7 percent of growth in 2019. More than 16 of the american economy. That is projected to rise to 19. 7 by 2028. Rising Prescription Drug prices is a key driver in those numbers. But, it is not just about gdp. It is also about the all too real human cost we will hear about today. For some, the ability to access Prescription Drugs is what enables them to work, care for their families and loved ones. To just get through the day without excruciating pain. For others, access to
I call this hearing of the subcommittee on competition, policy, antitrust and consumer rights on protecting Innovation And Consumer choice in home technologies the order. To order. Good afternoon. Welcome to our witnesses. This hearing continues Senator Lee and my and our committee members bipartisan review of americas monopoly problem. And i thank Senator Lee and his staff for working with our staff to plan this hearing. The Competition Policy Subcommittee has been examining the problems that arise when a handful of companies become powerful enough to distort competition in the marketplace. So far weve seen that excessive Market Power benefits the few companies able to wield it at the expense of consumers, businesses and workers. Our current antitrust laws have not been effective in stemming the rise of Monopoly Power or its abuse by dominant companies. As a result, we see competition problems in industry after industry across our economy. Today well examine an emerging industry that
Chair klobuchar i call to order this second joint hearing of the rules and Homeland Security and government Affairs Committee on examining the january 6 attack on the united States Capitol. At Todays Hearing, we will continue our committees important work to get answers that will lead us to solutions following the horrific events at the capitol on january 6. Last week we heard from witnesses who were directly in charge of Capitol Security on that day and from local Law Enforcement in washington. Today, we will hear testimony from the head of the d. C. National guard and from federal officials from agencies including fbi, Defense Department, and department of Homeland Security that are tasked with supporting our security people at the capitol. The testimony of these witnesses is crucial as we work to get to the bottom of what happened, again, with the focus being on making sure it does not happen again. And with that, i now turn it over to Chairman Peters for his opening statement. I wi