Safeguarding Patients and Taxpayers Act This bill requires the Centers for Medicare & Medicaid Services (CMS) to annually report certain information on its use of funds to implement the Medicare Drug Price Negotiation Program. (The program requires the CMS to negotiate the prices of certain prescription drugs under Medicare beginning in 2026.) Specifically, the CMS must annually report (for as long as funds are available) on the amounts expended, the use of funds, and the projected and actual unused funds from amounts appropriated to implement the program. The CMS must also report on relevant contracts, efforts to prevent fraud, waste, and abuse, and other implementation activities and associated expenditures. The bill also explicitly restricts the CMS from using program funds for other programs or purposes.