Kamala Harris Takes Aim at ‘Price-Gouging’ Drug Companies

Kamala Harris Wants to Cut Drug Prices Tax ‘Price-Gouging’ Companies

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Kamala Harris, senator of California and Democratic presidential hopeful, released a plan July 16 to lower prescription drug prices.

Under the proposal, the Department of Health and Human Services would set a "fair price" for any drug that is sold for a cheaper price in an economically comparable country - the plan cites the United Kingdom, France, Germany, Japan and Australia as examples - or when a company hikes its price by more than inflation. Harris says she would also instruct her attorney general to investigate drug prices.

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"As President, I will not stand idly by as Americans pay thousands of dollars for prescription drugs while big pharmaceutical companies rake in massive profits", Harris said in a statement. Pharmaceutical companies would get hit with a 100% tax on profits generated by prices above that level, with the tax revenues paid to consumers as rebates. Gillibrand, as president, would create a "Pharma Czar" and prosecute companies for price gouging. This is at least the fourth policy proposal from Harris that promises to use executive action powers if Congress does not act.

If a pharmaceutical company still refuses to bring down drug prices, Harris says she would support "march-in" rights, in which the federal government is allowed to award a patent to a company offering lower prices if the drug was developed in part via federal research and development funds.

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Harris said Trump telling Democratic Reps. Last week, a federal judge blocked an administration rule that would have required drug makers to disclose medicine prices in TV ads.

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