PlainBillCongress, translated.Legislation. Context. Public interest.Congressional Research Service
Version 00 · Introduced in Senate · Apr 25, 2023
Strengthening Medicare And Reducing Taxpayer Prices Act or the SMART Prices Act
This bill modifies requirements of the Medicare Drug Price Negotiation Program and makes other changes with respect to the prices of prescription drugs under Medicare.
Current law requires the Centers for Medicare & Medicaid Services (CMS) to negotiate maximum prices for brand-name drugs that do not have other generic equivalents and that account for the greatest Medicare spending. The CMS must negotiate the prices of 10 drugs that are covered under the Medicare prescription drug benefit in 2026, 15 drugs that are covered under the Medicare prescription drug benefit in 2027, 15 drugs that are covered under the Medicare prescription drug benefit or under Medicare medical services in 2028, and 20 drugs that are covered under the Medicare prescription drug benefit or under Medicare medical services in 2029 and each year thereafter.
Showing the opening paragraphs of the official summary.
The bill requires the CMS to negotiate the prices of 20 drugs under the Medicare prescription drug benefit in 2026 and 40 drugs under the Medicare prescription drug benefit or under Medicare medical services in 2027 and each year thereafter. It also (1) shortens the required period of market approval from 7 years and 11 years for drugs and biologics, respectively, to 3 years; and (2) modifies the ceiling for the maximum fair price for short-, extended-, and long-monopoly drugs.
The bill also repeals provisions that prohibit the CMS from interfering in negotiations between drug manufacturers, pharmacies, and PDP sponsors (i.e., noninterference clause).
People & committees
Sen. Klobuchar, Amy [D-MN] · D–MN
Legislative record
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Read twice and referred to the Committee on Finance.
Introduced in Senate
Primary sources
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Source last updated: Jan 9, 2026. Consult Congress.gov for the current record.
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