HR 1158 · 103th Congress · Taxation

Prescription Drug Affordability Act of 1993

Introduced 1993-03-01· Sponsored by Rep. Machtley, Ronald K. [R-RI-1]· House

Bill Progress

Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the Subcommittee on Health and the Environment.(1993-03-16)

Plain Language Summary

[AI summary unavailable — showing source text] Prescription Drug Affordability Act of 1993 - Amends the Internal Revenue Code to reduce the amount by which the possession tax credit exceeds the manufacturer's wage base in the case of manufacturers of single source or innovator multiple source drugs. Allocates additional revenues received in the Treasury as a result of this Act as follows: (1) 75 percent for deficit reduction; and (2) 25 percent for developing or supplementing State prescription drug assistance programs for States with the highest percentage of elderly or poor populations.…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (11)

8 Democrats2 Republicans1 Independent