1. Short title This Act may be cited as the Knock Out Cancer Act or the KO Cancer Act . 2. Increasing NCI budget for cancer research To conduct or support cancer research, there is hereby appropriated, for each of fiscal years 2024 through 2028, to the National Cancer Institute, out of amounts in the Treasury not otherwise appropriated, an amount that is equal to 25 percent of the total amount appropriated to the National Cancer Institute for fiscal year 2022, to remain available until expended. Amounts appropriated pursuant to the preceding sentence shall be in addition to amounts otherwise made available to the National Cancer Institute. 3. Report to Congress on cancer drug shortages (a) Study The Secretary of Health and Human Services, acting through the Commissioner of Food and Drugs, in collaboration with such other agencies as the Secretary deems necessary, shall study the reasons for cancer drug shortages, including— (1) economic reasons; (2) supply chain failures; (3) delays and other complications relating to— (A) the development of cancer drugs; and (B) the approval of such drugs by the Food and Drug Administration; and (4) insufficient generic drugs and biosimilar biological products. (b) Report (1) In general Not later than 1 year after the date of enactment of this Act, the Secretary of Health and Human Services, acting through the Commissioner of Food and Drugs, shall complete the study under subsection (a) and submit a report to the appropriate committees of the Congress on the results of such study. (2) Recommendations The report under paragraph (1) shall include recommendations for addressing the reasons for cancer drug shortages.