Latest action: Read twice and referred to the Committee on Finance.
Referred to one or more standing committees for review, hearings, and possible markup.
Specific committees not parsed from action data.
The committee may hold hearings, amend the bill, or let it die without action.
Next: Reported
Full chamber floor — Speaker / Majority Leader controls scheduling
Requires pharmacy benefit managers to be transparent about drug pricing and business practices.
The problem
Pharmacy benefit managers control drug prices but operate without public transparency, potentially raising costs for patients and insurers without clear accountability.
The proposal
Bill would require PBMs to disclose pricing methods, rebate practices, and fee structures to regulators and the public, with potential penalties for non-compliance.
The impact
Patients, insurers, and healthcare providers would gain visibility into drug pricing. PBMs face new regulatory requirements. Drug costs may shift based on pricing transparency.
PBMs would need to publicly explain how they set drug prices and handle rebates. This visibility could help patients and insurers understand costs better and identify unfair pricing practices.
Transparency requirements could expose excessive fees and rebate practices that increase drug prices. Eliminating hidden markups may lower overall medication costs for consumers.
When pricing information is public, companies compete fairly on actual costs rather than opaque practices. This encourages PBMs to offer better rates and services.
Clear disclosure rules help patients and doctors make informed choices about medications. Accountability measures protect against price gouging and unfair business practices.
PBMs must invest in new systems and staff to track and report pricing data. These administrative costs may be passed to insurers and patients through higher fees.
Disclosing detailed business practices could harm PBMs competing against international companies with fewer restrictions. U.S. companies might lose strategic advantages.
Regulators must interpret and enforce new transparency rules across multiple PBMs using different systems. This requires significant government resources and expertise.
Transparency alone may not lower drug prices if underlying market problems persist. Price reductions depend on regulators taking enforcement action based on disclosed information.
Generated by AI from the bill text. Not a prediction and not legal or policy advice. The percentage is the model's own rating of each item — self-reported, and not a measure of how accurate it is.
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Individual contributions, grouped by employer · FEC
Where their individual donors work · 2026 cycle
Money from people who work there, not from the company. Not tied to this bill.
Itemized individual contributions via FEC, grouped by the employer each contributor self-reported. Companies and unions cannot contribute to federal candidates from their treasuries, so these totals are money from people who work at an employer — never from the organization itself. They are campaign contributions covering a full election cycle and are not connected to this bill.
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