Search Results: keywords:"no tax breaks for drug ads act"

  • H. R. 9021 — To amend the Internal Revenue Code of 1986 to deny the deduction for advertising and promotional expenses for prescription drugs.
    Status:Introduced in House
    Words:519

    H. R. 9021 proposes an amendment to the Internal Revenue Code of 1986 that would prevent companies from deducting expenses related to direct-to-consumer advertising of prescription drugs from their taxes. This means that businesses will no longer receive a tax break for money...

    Simple Explanation

    H. R. 9021 is a proposed rule that would stop drug companies from getting a tax discount for showing ads on TV or the internet to sell their medicines. This means they might spend less money on commercials, and people might see fewer ads about medicines.

  • S. 4691 — To amend the Internal Revenue Code of 1986 to deny the deduction for advertising and promotional expenses for prescription drugs.
    Status:Introduced in Senate
    Words:588

    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.