SMART Prices Act

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 1836 Introduced in Senate (IS)]

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119th CONGRESS
  1st Session
                                S. 1836

To amend title XVIII of the Social Security Act to strengthen the drug 
            pricing reforms in the Inflation Reduction Act.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                              May 21, 2025

    Ms. Klobuchar (for herself, Mr. Welch, Ms. Smith, Mr. King, Ms. 
  Cantwell, Mr. Reed, Mr. Whitehouse, Ms. Duckworth, Ms. Warren, Mrs. 
Gillibrand, Mr. Merkley, Mrs. Murray, Mr. Blumenthal, Mrs. Shaheen, Ms. 
Cortez Masto, Ms. Baldwin, Mr. Booker, Mr. Van Hollen, Mr. Durbin, Mr. 
Murphy, Mr. Fetterman, Mr. Markey, Mr. Lujan, Ms. Hassan, Mr. Heinrich, 
 Ms. Slotkin, and Mr. Bennet) introduced the following bill; which was 
          read twice and referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
To amend title XVIII of the Social Security Act to strengthen the drug 
            pricing reforms in the Inflation Reduction Act.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Strengthening Medicare And Reducing 
Taxpayer Prices Act'' or the ``SMART Prices Act''.

SEC. 2. IMPROVEMENTS TO THE MEDICARE DRUG PRICE NEGOTIATION PROGRAM.

    (a) Acceleration of the Selection of Negotiation-Eligible Drugs.--
Section 1192(a) of the Social Security Act (42 U.S.C. 1320f-1(a)) is 
amended--
            (1) in paragraph (3)--
                    (A) by striking ``2028, 15 negotiation-eligible 
                drugs'' and inserting ``2028 or a subsequent year, 50 
                negotiation-eligible drugs''; and
                    (B) by striking ``; and'' at the end and inserting 
                a period; and
            (2) by striking paragraph (4).
    (b) Improvements to the Definition of Qualifying Single Source 
Drug.--Section 1192(e)(1) of the Social Security Act (42 U.S.C. 1320f-
1(e)(1)) is amended--
            (1) in subparagraph (A)(ii), by striking ``7 years'' and 
        inserting ``3 years''; and
            (2) in subparagraph (B)(ii), by striking ``11 years'' and 
        inserting ``3 years''.
    (c) Improvement to the Ceiling for Maximum Fair Price.--Section 
1194(c)(3) of the Social Security Act (42 U.S.C. 1320f-3(c)(3)) is 
amended--
            (1) in subparagraph (A), by striking ``75 percent'' and 
        inserting ``76 percent'';
            (2) in subparagraph (B), by striking ``65 percent'' and 
        inserting ``55 percent''; and
            (3) in subparagraph (C), by striking ``40 percent'' and 
        inserting ``30 percent''.
    (d) Effective Date.--The amendments made by this section shall 
apply with respect to initial price applicability years (as defined in 
section 1191(b) of the Social Security Act (42 U.S.C. 1320f(b))) 
beginning with initial price applicability year 2028.
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