Stop Price Gouging Act

Summary

Stop Price Gouging Act This bill imposes an excise tax on pharmaceutical companies that sell prescription drugs that are subject to price spikes that exceed the annual percentage increase in the Chained Consumer Price Index. For each taxable prescription drug, the excise tax ranges from 50% to 100% of price spike revenue received by the company, depending on the size of the price spike and including an adjustment for revenue that is due solely to an increase in the cost of the inputs necessary to manufacture the drug. Pharmaceutical companies must submit specified data regarding drug prices and revenue to the Inspector General (IG) of the Department of Health and Human Services (HHS), and the IG must submit an assessment of the data to the Internal Revenue Service. HHS, upon the recommendation of the IG, may exempt certain drugs from the excise tax if (1) a for-cause price increase exemption should apply or; (2) the drug has an average manufacturer price of not greater than $10 for a 30-day supply and is marketed by at least 3 other holders of applications approved under the Federal Food, Drug, and Cosmetic Act. The Government Accountability Office must examine (1) how drug manufacturers and health plans establish initial launch prices for newly approved drugs, and (2) alternative methods that have been proposed for setting the price of new drugs.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 7 February 2019

   Referred

   Referred to the Subcommittee on Health.

   Source: Committee

2. 7 February 2019

   Introduced

   Referred to the Committee on Energy and Commerce, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

   Source: IntroReferral

3. 7 February 2019

   Introduced

   Introduced in House

   Source: IntroReferral

4. 7 February 2019

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 7 February 2019 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 7 February 2019

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 7 February 2019

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 7 February 2019

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Pocan, Mark [D-WI-2] · D · Sponsor
• Rep. Kaptur, Marcy [D-OH-9] · D · Sponsor
• · hswm00 · Standing
• · hsif00 · Standing

Related records

• related to → Stop Price Gouging Act
• related to ← Affordable Medications Act
• related to ← Stop Price Gouging Act