Ending Tax Deductions for Direct-to-Consumer Prescription Drug Ads.
This bill eliminates the ability for pharmaceutical companies to deduct the cost of direct-to-consumer prescription drug advertising from their taxable income. This change aims to increase tax revenue from drug manufacturers and potentially reduce the volume of drug advertisements seen by the public across all media platforms. The law does not directly affect drug prices or access for citizens.
Key points
Pharmaceutical companies will no longer receive tax breaks for expenses related to advertising prescription drugs directly to the general public.
The ban on deductions covers all advertising formats, including TV, radio, print, billboards, and digital platforms like social media.
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