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PRICE Act of 2021
12/30/2022, 8:18 AM
Summary of Bill HR 6082
The PRICE Act of 2021, also known as Bill 117 hr 6082, is a piece of legislation introduced in the US Congress. The main goal of this bill is to address the rising costs of prescription drugs in the United States.
The PRICE Act aims to increase transparency in the pharmaceutical industry by requiring drug manufacturers to disclose the costs associated with producing and marketing their medications. This information would then be made available to the public, allowing consumers to better understand why certain drugs are priced the way they are.
Additionally, the bill includes provisions to prevent price gouging by pharmaceutical companies. It would require drug manufacturers to justify any price increases that exceed the rate of inflation, and give the government the authority to penalize companies that engage in unfair pricing practices. Furthermore, the PRICE Act seeks to increase competition in the pharmaceutical market by streamlining the approval process for generic drugs. This would help to lower prices for consumers by providing more affordable alternatives to brand-name medications. Overall, the PRICE Act of 2021 aims to address the issue of high prescription drug costs in the United States by increasing transparency, preventing price gouging, and promoting competition in the pharmaceutical industry.
The PRICE Act aims to increase transparency in the pharmaceutical industry by requiring drug manufacturers to disclose the costs associated with producing and marketing their medications. This information would then be made available to the public, allowing consumers to better understand why certain drugs are priced the way they are.
Additionally, the bill includes provisions to prevent price gouging by pharmaceutical companies. It would require drug manufacturers to justify any price increases that exceed the rate of inflation, and give the government the authority to penalize companies that engage in unfair pricing practices. Furthermore, the PRICE Act seeks to increase competition in the pharmaceutical market by streamlining the approval process for generic drugs. This would help to lower prices for consumers by providing more affordable alternatives to brand-name medications. Overall, the PRICE Act of 2021 aims to address the issue of high prescription drug costs in the United States by increasing transparency, preventing price gouging, and promoting competition in the pharmaceutical industry.
Congressional Summary of HR 6082
Promoting Rigorous and Innovative Cost Efficiencies for Federal Procurement and Acquisitions Act of 2021 or the PRICE Act of 2021
This bill directs the Management Directorate of the Department of Homeland Security (DHS) to publish an annual report on a DHS website on projects that have used innovative procurement techniques within DHS to accomplish specified goals.
Such goals are
- improving or encouraging better competition,
- reducing time to award,
- achieving cost savings,
- achieving better mission outcomes, or
- meeting the goals for contracts awarded to small business concerns.
The Management Directorate shall (1) develop and disseminate guidance and offer training for specified personnel concerning when and how to use such techniques, and (2) share best practices across DHS and make available to other federal agencies information to improve procurement methods and training.
The Office for Federal Procurement Policy shall convene a Chief Acquisition Officers Council to examine best practices for acquisition innovation in contracting in the federal government.
Read the Full Bill
Current Status of Bill HR 6082
Bill HR 6082 is currently in the status of Bill Introduced since November 26, 2021. Bill HR 6082 was introduced during Congress 117 and was introduced to the House on November 26, 2021. Bill HR 6082's most recent activity was Referred to the Subcommittee on Oversight, Management, and Accountability. as of November 29, 2021
Bipartisan Support of Bill HR 6082
Total Number of Sponsors
1Democrat Sponsors
1Republican Sponsors
0Unaffiliated Sponsors
0Total Number of Cosponsors
2Democrat Cosponsors
0Republican Cosponsors
2Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 6082
Primary Policy Focus
Government Operations and PoliticsAlternate Title(s) of Bill HR 6082
PRICE Act of 2021
PRICE Act of 2021
Promoting Rigorous and Innovative Cost Efficiencies for Federal Procurement and Acquisitions Act of 2021
To promote innovative acquisition techniques and procurement strategies, and for other purposes.
Comments
Sponsors and Cosponsors of HR 6082
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