Bill · S. 1836· Senate(119-S-1836)

SMART Prices Act

Age: 66 years

Minnesota

Introduced: 5/21/2025
Last activity: 5/21/2025 — Read twice and referred to the Committee on Finance.
Sponsored by: Amy Klobuchar
Cosponsors: - 25 - 0

Health

Introduced
In Committee

What this bill would do

This bill, titled the "Strengthening Medicare And Reducing Taxpayer Prices Act," aims to amend the Social Security Act to strengthen drug pricing reforms. It seeks to change the Medicare drug price negotiation program by increasing the number of negotiation-eligible drugs to 50 by 2028 or a subsequent year. The legislation also modifies the definition of a qualifying single source drug by reducing certain timeframes to 3 years. Additionally, it adjusts the ceiling for the maximum fair price. These changes are intended to apply to initial price applicability years beginning with 2028.

Yes· 3 of 11

Would people over 65 be better off under this?+8
Directly benefits seniors on Medicare by reducing costs for many essential drugs.
Would retired people be better off under this?+8
Provides direct cost savings on medications for the retiree population covered by Medicare.
Does this lower the price of prescription medicines?+8
Significantly expands and strengthens the mechanism for negotiating lower prices for Medicare drugs.

The opposite· 3 of 5

Does this make patent and copyright rules fairer?-3
The changes to single source drug definitions may reduce the effective period of certain patent-related advantages.
Would business owners be better off under this?-2
Could negatively impact pharmaceutical companies and their owners due to lower price ceilings.
Would people with substantial wealth be better off under this?-2
May reduce profit margins for major pharmaceutical corporations.