This bill — the End Taxpayer Subsidies for Drug Ads Act — would prohibit tax deductions for expenses related to direct-to-consumer advertising of prescription drugs. “Direct-to-consumer advertising” would be defined as any dissemination of an ad related to a prescription drug targeted to the general public.
What is Senate Bill S. 2478?
Cost of Senate Bill S. 2478
In-Depth: Sponsoring Sen. Claire McCaskill (D-MO) introduced this bill to end taxpayer subsidies for prescription drug advertisements:
“Drug companies have too much influence in Washington. So it figures we are one of the only nations in the world that allows both advertising of prescription drugs to consumers and allows those ads to be subsidized by taxpayers. I’m determined to fight these high drug prices and a good first step would be to stop subsidizing their ads for drugs that must be prescribed by a doctor. Too many drug companies are spending more on sales and marketing than on research and development. And Missourians are tired of paying for it.”
This legislation has the support of two cosponsors in the Senate, both of whom are Democrats.
Summary by Eric Revell(Photo Credit: Kenishirotie / iStock)
End Taxpayer Subsidies for Drug Ads Act
A bill to amend the Internal Revenue Code of 1986 to deny the deduction for advertising and promotional expenses for prescription drugs.
- Not enactedThe President has not signed this bill
- The house has not voted
- The senate has not voted
Committee on FinanceIntroducedMarch 1st, 2018
- senate Committees