S. 4691, also known as the “No Tax Breaks for Drug Ads Act,” seeks to amend the Internal Revenue Code to prevent companies from deducting expenses related to advertising prescription drugs directly to consumers. This includes ads that appear in various media such as...
Simple Explanation
The bill is about stopping companies from getting money back on their taxes for the money they spend on ads for medicines you can get with a doctor's permission. This means if the bill passes, companies can't count these advertising costs to lower their tax bills.