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Kamala Harris wants to place ‘people over profit’ on prescription drug prices

Sen. Kamala Harris on Tuesday announced a plan to address the soaring cost of prescription drugs by having the federal government set a “fair price,” joining several fellow 2020 hopefuls seeking to tackle rising drug costs.

Under the California Democrat’s “People Over Profit” plan, the Health and Human Services Department would set a “fair price” for prescription drugs whose prices rise by more than the cost of inflation or that sell for cheaper in comparable Organization for Economic Cooperation and Development (OECD) member countries like Canada, the U.K. and Japan.

Meanwhile, Harris’s plan proposes, profits from drugs sold above their fair price would be taxed at 100% and passed back to consumers as rebates.

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