Shaheen Reintroduces Bill to Stop Big Pharma from Exploiting Advertising Tax Loophole
July 12, 2024
July 12, 2024
WASHINGTON, July 12 -- Sen. Jeanne Shaheen, D-New Hampshire, issued the following news release:
Senator Jeanne Shaheen (D-NH) recently reintroduced the No Tax Breaks for Drug Ads Act to 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 taxpayers pay more of their hard-earned money for life-sa . . .
Senator Jeanne Shaheen (D-NH) recently reintroduced the No Tax Breaks for Drug Ads Act to 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 taxpayers pay more of their hard-earned money for life-sa . . .