Prescription Drug Affordability Act

Summary

Prescription Drug Affordability Act - Amends the Internal Revenue Code to allow a nonrefundable tax credit for 80 percent of the amount paid for a prescribed drug during the taxable year (and not compensated for by insurance or otherwise) by a taxpayer who has attained social security retirement age. Amends the Federal Food, Drug, and Cosmetic Act (FFDCA) to repeal provisions restricting the importation of prescription drugs. Allows a person who meets applicable legal requirements to be an importer of prescription drugs upon application to the Secretary of Health and Human Services. Requires the Secretary to approve such an application if the drug meets all FFDCA requirements for admission into the United States, including that the drug has been approved by the Food and Drug Administration (FDA) and is not adulterated or misbranded. Prohibits the Secretary from taking any action against any of the persons involved with the interstate sale of a prescription drug through an Internet site if: (1) the sale was made in compliance with applicable Federal and State laws; and (2) accurate information regarding compliance with such laws is posted on the Internet site.

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Timeline

1. 4 January 2007

   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

2. 4 January 2007

   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. 4 January 2007

   Introduced

   Introduced in House

   Source: IntroReferral

4. 4 January 2007

   Introduced

   Introduced in House

   Source: IntroReferral

5. 5 January 2007

   Introduced

   Sponsor introductory remarks on measure. (CR E9)

   Source: IntroReferral

6. 18 January 2007

   Referred

   Referred to the Subcommittee on Health.

   Source: Committee

7. 2 February 2007

   Referred

   Referred to the Subcommittee on Health.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 4 January 2007 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 4 January 2007

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 4 January 2007

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 4 January 2007

  Open at official source

Sponsors

• Rep. Paul, Ron [R-TX-22] · R · Sponsor
• · hsif00 · Standing
• · hswm00 · Standing

Related records

No cross-record relationships stored yet.