Rep. Gabe Vasquez Champions Bill to Cap Prescription Drug Prices for New Mexicans

WASHINGTON, D.C.- On March 11, 2026, U.S. Representative Gabe Vasquez (NM-02)continued his work to bring down the cost of health care for New Mexicans by cosponsoring the Capping Prescription Costs Act- a bill that would cap annual prescription drug costs at $2,000 for individuals and $4,000 for families with private health insurance plans. The Congressman's latest push to bring down the cost of health care comes on the heels of a new reportshowing 8 out of 10 Americans in districts like NM-02 have seen their health care costs go up.

"Too many hardworking New Mexicans can't fill their essential prescriptions because the cost of medicine has skyrocketed," said Vasquez. "I'm supporting this bill to cap out-of-pocket costs because families shouldn't have to choose between their medicine or putting gas in their car to get to work."

The Capping Prescription Costs Actexpands on the prescription price caps for seniors and Medicare recipients that were created in the Inflation Reduction Act. The $2,000 cap on cost-sharing for individuals and $4,000 for families will apply to all of the 173 million Americans who have private health insurance.

This latest legislative push builds on Rep. Vasquez's long record of working to bring down the cost of medicine for New Mexicans.

• Rep. Vasquez voted against the Republican tax lawthat took coverage away from 38,000 New Mexicans in the district who rely on Medicaid for health care coverage to pay for tax breaks for corporations and the wealthy.
• Rep. Vasquez has urged the Administration to work across the aisle to lower drug costs and leave Medicare's ability to negotiate lower drug prices in place.
• Rep. Vasquez has pushed for measures to cap insulin prices at $35/month for individuals, no matter their health care coverage.
• Rep. Vasquez has also pushed back against efforts to privatize the U.S. postal service,a move that would make it harder for seniors and folks in rural communities to have their prescriptions delivered.

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