HR 4821
107th Congress
House
Taxation
Advertising
Appropriations
Business income tax
Commerce
Drug industry
Economics and Public Finance
Government Operations and Politics
Government trust funds
Health
Income tax
Marketing
Medicare
Pharmaceutical research
Research and development
Sales promotion
Science, Technology, Communications
Social Welfare
Tax deductions
Fair Advertising and Increased Research (FAIR) Act
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 22, 2002
Referred to the House Committee on Ways and Means.
May 22, 2002
Introduced in House
May 20, 2002
Sponsor introductory remarks on measure. (CR H2651)
Plain-English summary
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.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1