“To amend the Internal Revenue Code of 1986 to deny the deduction for advertising and promotional expenses for certain drugs.”
No CRS summary available for this bill.
This section disallows tax deductions under the Internal Revenue Code for expenses related to direct-to-consumer advertising of covered drugs (i.e., prescription drug products or drugs compounded under sections 503A or 503B of the Federal Food, Drug, and Cosmetic Act), effective for amounts paid or incurred after the date of enactment in taxable years ending after such date. Direct-to-consumer advertising, by sponsors of prescription drugs or owners of outsourcing facilities, includes dissemination primarily to the general public via broadcast media (radio, television, telephone), direct mail, billboards, internet, or digital platforms (excluding advertisements in journals and periodicals).