
Bannon-Linked Coalition Pushes to Strip Tax Breaks and Ban TV Drug Ads
A new conservative-leaning coalition, supported by former Trump strategist Steve Bannon, author Naomi Wolf and the advocacy group Bust Big Pharma, has begun a national campaign to curb pharmaceutical advertising on television. The organisers argue that cable news networks such as MSNBC and CNN depend on drug commercials for roughly 31% of their advertising revenue, a reliance they say distorts coverage of health-policy debates. The coalition’s policy blueprint includes three measures: closing the federal tax loophole that currently allows drug makers to deduct 100% of their advertising costs; imposing a dollar-for-dollar fee on those expenditures to finance Medicare and Medicaid; and ultimately banning direct-to-consumer prescription-drug commercials in the United States, one of only two countries that permit such ads. Campaign leaders cite new polling indicating that 75% of American voters would reject any political candidate who accepts money from pharmaceutical companies, contending the issue could influence next year’s midterm elections. They have launched an online petition to build public pressure for congressional action, framing the initiative as a test of lawmakers’ willingness to challenge industry influence.
Sources
- The Gateway Pundit
War Room’s Steve Bannon with Dr. Naomi Wolf on Legacy Media’s Demise without Big Pharma Money (VIDEO) https://t.co/ltse5VMeov
- Grace Chong, MBI
BURGESS: Our 3 asks: 1) Close the tax loophole that lets Big Pharma write off 100% of ad costs. 2) Require a dollar-for-dollar fee on ad spend to fund Medicare and Medicaid. 3) Ban direct-to-consumer ads in their current form. Go to https://t.co/Eglincay0E to sign the petition https://t.co/qAIlamHwHA
- Grace Chong, MBI
BURGESS: MSNBC and CNN get at least 31% of ad rev from Big Pharma, even more during flagship shows. With drug ads 100% tax-deductible, companies like Pfizer can get tax refunds bigger than what they pay in corp taxes. Most Americans want the ads gone. @BustBigPharma https://t.co/d8LZSce2MV