1. Short title This Act may be cited as the Strengthening Medicare and Reducing Taxpayer Prices Act or the SMART Prices Act . 2. Repeal of the Medicare part D noninterference clause Section 1860D–11 of the Social Security Act ( 42 U.S.C. 1395w–111 ) is amended by striking subsection (i). 3. Improvements to the Medicare Drug Price Negotiation Program (a) Acceleration of the selection of negotiation-Eligible drugs (1) In general Section 1192(a) of the Social Security Act ( 42 U.S.C. 1320f–1(a) ) is amended— (A) in paragraph (1)— (i) by striking 10 and inserting 20 ; and (ii) by inserting and after the semicolon at the end; (B) by striking paragraph (2) and redesignating paragraph (3) as paragraph (2); (C) in paragraph (2), as redesignated by subparagraph (B) of this paragraph— (i) by striking 2028, 15 negotiation-eligible drugs and inserting 2027 or a subsequent year, 40 negotiation-eligible drugs ; and (ii) by striking ; and at the end and inserting a period; and (D) by striking paragraph (4). (2) Conforming amendments Section 1192 of the Social Security Act ( 42 U.S.C. 1320f–1 ) is amended— (A) in subsection (b)(2)— (i) in the paragraph heading, by striking and 2027 ; and (ii) by striking and with respect to the initial price applicability year 2027 ; and (B) in subsection (d)(1), in the matter preceding subparagraph (A), by striking or 2027 . (b) Improvements to the definition of qualifying single source drug Section 1192(e)(1) of the Social Security Act ( 42 U.S.C. 1320f–1(e)(1) ) is amended— (1) in subparagraph (A)(ii), by striking 7 years and inserting 3 years ; and (2) in subparagraph (B)(ii), by striking 11 years and inserting 3 years . (c) Improvement to the ceiling for maximum fair price Section 1194(c)(3) of the Social Security Act ( 42 U.S.C. 1320f–3(c)(3) ) is amended— (1) in subparagraph (A), by striking 75 percent and inserting 76 percent ; (2) in subparagraph (B), by striking 65 percent and inserting 55 percent ; and (3) in subparagraph (C), by striking 40 percent and inserting 30 percent .