Fair Advertising and Increased Research (FAIR) Act

Hozzl · 2023-01-16T01:32:46Z

Explore the details of House Bill 4821 Fair Advertising and Increased Research (FAIR) Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

1/16/2023, 1:32 AM

Congressional Summary of HR 4821

Fair Advertising and Increased Research Act - Amends the Internal Revenue Code to prohibit any drug manufacturer from taking a tax deduction for expenditures relating to the advertising, promoting, or marketing of any FDA prescription drug to the extent the aggregate amount of such expenditures exceeds the manufacturer's aggregate research and development expenditures.

Directs the Secretary of the Treasury to estimate amount of additional tax revenues raised by enforcement of the Act, to be allocated to the Federal Hospital Insurance Trust Fund.

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Current Status of Bill HR 4821

Bill HR 4821 is currently in the status of Bill Introduced since May 22, 2002. Bill HR 4821 was introduced during Congress 107 and was introduced to the House on May 22, 2002. Bill HR 4821's most recent activity was Referred to the House Committee on Ways and Means. as of May 22, 2002

Bipartisan Support of Bill HR 4821

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 4821

Primary Policy Focus

Taxation

Potential Impact Areas

AdvertisingAppropriationsBusiness income taxCommerceDrug industryEconomics and Public FinanceGovernment Operations and PoliticsGovernment trust fundsHealthIncome taxMarketingMedicarePharmaceutical researchResearch and developmentSales promotionScience, Technology, CommunicationsSocial WelfareTax deductions

Alternate Title(s) of Bill HR 4821

Fair Advertising and Increased Research (FAIR) ActTo amend the Internal Revenue Code of 1986 to limit the deduction for advertising of FDA approved prescription drugs by the manufacturer of such drugs to the level of such manufacturer's research and development expenditures, and for other purposes.Fair Advertising and Increased Research (FAIR) Act

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