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No Tax Breaks for Prescription Drug Ads

This bill aims to prevent pharmaceutical companies from deducting the cost of prescription drug advertisements from their taxes. This means that drug ads seen on TV, online, or in newspapers will no longer reduce their tax obligations. This could impact the volume and type of drug advertisements citizens encounter.
Key points
Pharmaceutical companies will no longer be able to deduct the cost of prescription drug advertising from their taxes.
This change applies to direct-to-consumer advertising, including TV, radio, internet, newspapers, and billboards.
The goal is to potentially reduce the number of drug advertisements, which may affect consumer awareness of available medications.
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Additional Information
Print number: 117_HR_6392
Sponsor: Rep. Slotkin, Elissa [D-MI-8]
Process start date: 2022-01-13