“A bill 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 any tax deduction under the Internal Revenue Code for expenses relating to direct-to-consumer advertising of covered drugs (i.e., prescription drug products, as defined in section 735(3) of the Federal Food, Drug, and Cosmetic Act, or drugs compounded under sections 503A or 503B of such Act), for amounts paid or incurred after the date of enactment in taxable years ending after such date. Direct-to-consumer advertising, by or on behalf of covered entities (i.e., prescription drug sponsors or owners of outsourcing facilities), includes dissemination primarily targeted to the general public via radio, television, telephone, direct mail, billboards, internet, or digital platforms (including social media and mobile applications) but excludes advertisements in journals and periodicals.