S2719 establishes the Rhode Island Drug Cost Review Commission to review and set price limits for prescription drugs when manufacturers increase or introduce prices above specified thresholds. The bill creates a five-member commission with a stakeholder advisory board, empowers it to enforce compliance through the attorney general, and funds its operations with up to $500,000 annually.
The Rhode Island Senate passed S2719 on May 21, 2024 by a vote of 28 to 8. We have assigned pluses to the nays because establishing “price controls” is not the role of government. Taxpayer funds should not support a commission that imposes price controls, distorts competition, and risks reducing access to innovative medications. This legislation undermines property rights protected by the Bill of Rights and 14th Amendment by allowing state bureaucrats to dictate drug prices, advancing a regulatory agenda that erodes individual freedom. The free market, not government intervention, should determine drug pricing to ensure efficiency and consumer choice without unconstitutional government overreach.
