H.R.1158 - Prescription Drug Affordability Act of 1993103rd Congress (1993-1994)
|Sponsor:||Rep. Machtley, Ronald K. [R-RI-1] (Introduced 03/01/1993)|
|Committees:||House - Energy and Commerce; Ways and Means|
|Latest Action:||House - 03/16/1993 Referred to the Subcommittee on Health and the Environment. (All Actions)|
This bill has the status Introduced
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Summary: H.R.1158 — 103rd Congress (1993-1994)All Information (Except Text)
Introduced in House (03/01/1993)
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.