3.0.0 2974 2023-01-11T13:37:48Z 2023-01-11T13:37:48Z House HR 2017-06-21 115 [Congressional Record Volume 163, Number 106 (Wednesday, June 21, 2017)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. POCAN:H.R. 2974.Congress has the power to enact this legislation pursuantto the following:To regulate Commerce with foriegn Nations, and among severlStates, and with the Indian Tribes.[Page H5048]]]> hsif00 Energy and Commerce Committee House Standing hsif14 Health Subcommittee Referred to 2017-06-23T13:56:39Z Referred to 2017-06-21T14:01:05Z hswm00 Ways and Means Committee House Standing Referred to 2017-06-21T14:01:10Z Stop Price Gouging Act 115 1369 S 2017-06-15 Read twice and referred to the Committee on Finance. Identical bill CRS 2017-06-23 hsif14 Health Subcommittee 1 House committee actions Referred to the Subcommittee on Health. Committee 2017-06-21 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. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2017-06-21 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. IntroReferral H11100 2 House floor actions hsif00 Energy and Commerce Committee 2017-06-21 Introduced in House IntroReferral Intro-H 9 Library of Congress 2017-06-21 Introduced in House IntroReferral 1000 9 Library of Congress P000607 Rep. Pocan, Mark [D-WI-2] Mark Pocan D WI 2 N K000009 Rep. Kaptur, Marcy [D-OH-9] MARCY KAPTUR D OH 9 2017-06-21 True J000298 Rep. Jayapal, Pramila [D-WA-7] Pramila Jayapal D WA 7 2017-09-07 False K000389 Rep. Khanna, Ro [D-CA-17] Ro Khanna D CA 17 2018-02-08 False P000604 Rep. Payne, Donald M., Jr. [D-NJ-10] Donald Payne D NJ M. 10 2018-02-08 False Taxation Business records Congressional oversight Government information and archives Government studies and investigations Inflation and prices Prescription drugs Sales and excise taxes Taxation 00 2017-06-21 Introduced in House 2019-03-12T19:30:21Z Stop Price Gouging Act

This bill amends the Internal Revenue Code to impose an excise tax on pharmaceutical companies that sell prescription drugs that are subject to price spikes that exceed the annual percentage increase in the medical care consumer price index detailed expenditure category for all urban consumers (U.S. city average).

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.

]]> Stop Price Gouging Act Display Title Stop Price Gouging Act Official Title as Introduced To amend the Internal Revenue Code of 1986 to establish an excise tax on certain prescription drugs which have been subject to a price spike, and for other purposes. Introduced in House IH Short Titles as Introduced Stop Price Gouging Act Introduced in House 2017-06-21T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115hr2974ih/xml/BILLS-115hr2974ih.xml 2017-06-23 Referred to the Subcommittee on Health. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.