Sen. Shaheen Reintroduces Bill to Stop Big Pharma From Exploiting Advertising Tax Loophole
February 01, 2021
February 01, 2021
WASHINGTON, Feb. 1 -- Sen. Jeanne Shaheen, D-New Hampshire, issued the following news release on Jan. 30:
U.S. Senator Jeanne Shaheen (D-NH) introduced the End Taxpayer Subsidies for Drug Ads Act, a bill that would prohibit pharmaceutical drug manufacturers from claiming tax deductions for expenses on advertising directly to consumers. Under current law, drug manufacturers are allowed to deduct the cost of advertising expenses from federal taxes, meaning taxpayer dollars are used to . . .
U.S. Senator Jeanne Shaheen (D-NH) introduced the End Taxpayer Subsidies for Drug Ads Act, a bill that would prohibit pharmaceutical drug manufacturers from claiming tax deductions for expenses on advertising directly to consumers. Under current law, drug manufacturers are allowed to deduct the cost of advertising expenses from federal taxes, meaning taxpayer dollars are used to . . .