No Tax Breaks for Drug Ads Act

Bill: 116-hr-4711
Sponsor: full_name: Rep. Lipinski, Daniel [D-IL-3]
Introduced: 2019-10-17
Policy area: Taxation
Subjects: Income tax deductions

Marketing and advertising

Prescription drugs
Latest action: action_date: 2019-10-17
text: Referred to the House Committee on Ways and Means.

Summaries:
action_date: 2019-10-17
action_desc: Introduced in House
text: <p><strong>No Tax Breaks for Drug Ads Act</strong></p> <p>This bill denies a tax deduction for the costs of advertising prescription drugs.</p>

tv_txt: I 116th CONGRESS 1st Session H. R. 4711 IN THE HOUSE OF REPRESENTATIVES October 17, 2019 Mr. Lipinski introduced the following bill; which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to deny any deduction for advertising prescription drugs.

1. Short title This Act may be cited as the No Tax Breaks for Drug Ads Act . 2. Denial of deduction for advertising prescription drugs (a) In general Part IX of subchapter B of chapter 1 of the Internal Revenue Code of 1986 (relating to items not deductible) is amended by adding at the end the following new section: 280I. Denial of deduction for advertising prescription drugs (a) In general No deduction shall be allowed under this chapter with respect to— (1) any advertisement primarily for purposes of promoting the sale or use of any prescribed drug (as defined in section 213(d)(3)), and (2) any of the following incurred or provided primarily for purposes described in paragraph (1): (A) Travel expenses (including meals and lodging). (B) Goods or services of a type generally considered to constitute entertainment, amusement, or recreation or the use of a facility in connection with providing such goods and services. (C) Gifts. (D) Other promotion expenses. (b) Regulations The Secretary shall prescribe such regulations as may be necessary to carry out the purposes of this section. . (b) Clerical amendment The table of sections for such part IX is amended by adding at the end the following new item: Sec. 280I. Denial of deduction for advertising prescription drugs. . (c) Effective date The amendments made by this section shall apply to amounts paid or incurred after the date of the enactment of this Act in taxable years ending after such date.