Senate Democrats Go After Tax Deduction for Advertising

Sens Al Franken (D-MN), Sherrod Brown (D-OH) and Sheldon Whitehouse (D-RI),have introduced the Protecting Americans from Drug Marketing Act (S. 1763), legislation that would disallow the federal tax deduction for all advertising and marketing expenses for prescription drugs. The senators may offer it as an amendment to health care reform legislation when the bill is considered by the full Senate. That would seemingly put in jeopardy the handshake deal that pharmaceutical companies struck earlier this year with the Obama administration and Senate Finance Committee leaders, which calls for drug-makers to pick up an estimated $80 billion in health-care costs over 10 years in exchange for no further crackdowns on the industry.