Kamala Harris, 2020 presidential contender, vows to reduce cost of prescription drugs

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

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

Kamala D. Harris rolled out a "People Over Profit" plan Tuesday that would allow the federal government to determine a "fair price" for prescription drugs.

Ms. Harris' plan would authorize HHS to annually set fair prices for drugs based on average prices of those drugs in comparable countries like Canada, France, Germany and Japan. These funds will ultimately go to consumers, either at the pharmacy counter or through rebates. Harris says she would also instruct her attorney general to investigate drug prices. And Harris would end the tax loophole pharmaceutical companies receive for direct-to-consumer advertising expenses.

"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 that are found to be price-gouging could face competition from lower-priced imports.

Under Harris' proposal, if Congress does not act on the proposal within 100 days of her taking office, she would issue an executive action that would launch an investigation into any major prescription companies accused of price gouging. President Trump campaigned on addressing rising prescription drug costs in 2016, although critics say he has failed to do so. Last week, a federal judge blocked an administration rule that would have required drug makers to disclose medicine prices in TV ads.

Harris, the daughter of immigrants, said during a day-long swing through Iowa that she has been told to "go back to where you came from".