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Kamala Harris Takes Aim at ‘Price-Gouging’ Drug Companies | The Fiscal Times

Presidential candidate Sen. Kamala Harris (D-CA) rolled out a proposal Tuesday to lower drug prices by cracking down on pharmaceutical firms.

The plan is similar to proposals from both fellow presidential candidate Sen. Bernie Sanders (I-VT) and President Trump, which would empower the federal government to set reimbursement levels for some drugs.

Under Harris’s proposal, titled “People Over Profit,” the Department of Health and Human Services would have the authority to set a “fair price” for drugs based on the prices in other industrialized countries, such as Canada and Germany. 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.

“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.

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Kamala Harris Takes Aim at ‘Price-Gouging’ Drug Companies | The Fiscal Times.

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