WASHINGTON, DC (WBAY) – U.S. Senator Tammy Baldwin (D-Wisconsin) says she’s pushing legislation to address skyrocketing prescription drug costs.
Thursday, Baldwin introduced the FAIR (Fair Accountability and Innovative Research) Drug Pricing Act..
Senate Bill 3335 would require drug manufacturers to provide more information about planned drug price increases. Companies would be required to submit a report 30 days before a price hike of more than 10 percent.
Sen. Baldwin says it gives taxpayers and patients notice and makes the process more transparent. “We deserve to have scrutiny and transparency to know that these price increases are justified,” she said.
Sen. Baldwin says the EpiPen increase is just one example why this bipartisan legislation is needed.
The bill is cosponsored by Republican Senator John McCain of Arizona.
It’s supported by a number of health advocacy groups.
It’s currently before the Senate Committee on Health, Education, Labor and Pensions.
Rep.Jan Schakowsky, a Democrat from Illinois, is sponsoring the FAIR Drug Pricing Act in the House.