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California May Require Tax Return Release for Presidential Candidates

California May Require Tax Return Release for Presidential Candidates”

California legislators have passed a bill aimed at creating greater transparency around prescription drug pricing by requiring pharmaceutical manufacturers to provide advance notice and more detailed explanations for raising the price of a drug. It will now go to the state senate and later to the governor.

It needed 21 votes to pass.

The tax returns would then be made available to the public, the bill notes, citing that voters would better be able to estimate the "risks of corruption or the appearance of corruption" if they had access to the tax returns.

It would do so by requiring pharmaceutical companies to notify health insurers and government health plans like Medi-Cal at least 60 days before scheduled prescription drug price hikes that would exceed 16 percent over a two-year period. Drug companies would have to provide an explanation for the price increase.

Once released, the documents would appear on the California Secretary of State's website. The legislation, SB 17, was approved by the Senate on Wednesday after clearing the Assembly earlier this week.

Governor Jerry Brown declared his support for the bill this week, after the author watered it down and maintained the ability for jail and prison officials to cooperate with immigration officers under certain circumstances. "This is a huge step to make a college-going culture in California". "It won't even paint a complete picture of prescription drug spending since it only calls for information on list prices rather than the final cost after discounts and rebates".



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