Bennet, Wyden, Colleagues Introduce Legislation to Force Disclosure of Terms Between President Trump and Pharmaceutical Companies

Apr 22, 2026 | Press Releases

Washington, D.C. - Colorado U.S. Senator Michael Bennet, a member of the Senate Finance Committee, Senate Finance Committee Ranking Member Ron Wyden (D-Ore.), and 16 Senate Democrats introduced legislation to force the Trump Administration to disclose the terms of deals the Trump Administration made with more than a dozen of the largest pharmaceutical companies, and conduct an independent analysis to determine whether American families will actually see lower prices from the deals.

"Lifesaving medicine is unaffordable for far too many Americans," said Bennet. "The Drug Deal Disclosure Act will provide transparency into the deals between large pharmaceutical companies and the Trump Administration, ensuring much needed accountability and oversight. We owe it to the American people to create the best health care system possible and fight for price visibility."

"There is no greater fraud when it comes to lower prescription drug prices than Donald J. Trump," Wyden said. "After spending the last year parading Big Pharma CEOs through the Oval Office, all Trump has to show for it are a handful of sweetheart deals that shower goodies on these companies while Americans continue paying high prices for medicines they count on. If these deals are so great, why is the Trump administration afraid of showing them to the public? Because Trump is a giant fraud when it comes to lower drug prices."

The Drug Deal Disclosure Act requires the Department of Health and Human Services to release the details of the deals struck between drug manufacturers and the Trump Administration, including all documentation associated with the agreements. The bill also instructs the Congressional Budget Office and the Government Accountability Office (GAO) to co-author and publish a comprehensive analysis of the economic and budgetary impacts of all disclosed agreements so the American people can confidently assess whether these deals actually save patients and taxpayers money.

Bennet has consistently worked to bring down prescription drug costs for Coloradans. In February 2026, Bennet's Prescription Drug Supply Chain Pricing Transparency Act was passed into law. This legislation will require GAO to conduct a study and submit a report to Congress about the ways the current pharmaceutical drug supply chain structure incents drug manufacturers, Pharmacy Benefit Managers, insurance companies, and other actors to hike up drug prices. In December 2025, he demanded four major pharmaceutical companies provide specific details about agreements they announced with President Donald Trump to lower drug costs as millions of Americans saw the cost of health care skyrocket. In March 2024, Bennet introduced the Increasing Access to Biosimilars Act to lower prescription drug costs for seniors. This legislation works to boost competition and encourage physicians to prescribe biosimilar medications with lower out-of-pocket costs. In March 2023, he urged the Center for Medicare and Medicaid Services Administrator Chiquita Brooks-LaSure to ensure swift implementation of the Inflation Reduction Act (IRA) provisions that will lower the cost of Medicare Part B prescription drugs. In August 2022, Bennet helped secure enhanced health insurance premium tax credits and the requirement for Medicare to negotiate drug prices in the IRA, first introduced as part of his Medicare-X public option bill.

In addition to Bennet and Wyden, U.S. Senators Peter Welch (D-Vt.), Elizabeth Warren (D-Mass.), Ruben Gallego (D-Ariz.), Jeff Merkley (D-Ore.), Ben Ray Luján (D-N.M.), Tammy Baldwin (D-Wis.), Sheldon Whitehouse (D-R.I.), Mark Kelly (D-Ariz.), Bernie Sanders ( I-Vt.), Mark Warner (D-Va.), Tina Smith (D-Minn.), Maggie Hassan (D-N.H.), Catherine Cortez Masto (D-Nev.), Raphael Warnock (D-Ga.), Mazie Hirono (D-Hawaii), and Maria Cantwell (D-Wash) co-sponsored the bill.

The text of the bill is available HERE.

###