Bill > HR4711

This bill, titled the "No Tax Breaks for Drug Ads Act," aims to amend the Internal Revenue Code to deny any tax deduction for the costs of advertising prescription drugs. Specifically, the bill prohibits companies from deducting expenses related to advertisements primarily intended to promote the sale or use of prescription drugs, including travel expenses, entertainment costs, gifts, and other promotional expenses. The bill also grants the Secretary of the Treasury the authority to issue regulations to carry out the purpose of this legislation, which will apply to amounts paid or incurred after the date of the bill's enactment.