Sen. Tina Smith introduces bill targeting pharmaceutical companies
Senator Tina Smith is introducing legislation, she's hoping will help bring down health care costs.
The bill would require pharmaceutical companies to share how they're using the money they've save, from tax breaks after the Republican tax bill, which passed last year.
"I'm asking them to tell us what are they doing with that money? How are they using that to buy back their own shares and boost their own stock price and how are they using to help lower the cost of prescription drugs?" she said.
Senator Smith said wants to target these companies after hearing from constituents, their prescription drug costs continue to rise. She gave the example of insulin, which she said hasn't changed much over the past several years, but has tripled in price.
Senator Smith said she introduced the bill for the first time today, and is reaching out to colleagues to push it through the U.S. Senate.