06 Jul Drug Prices Still Increase After Massive Tax Breaks for Pharma
With $11 billion in tax cuts, Pfizer raises prices on hundreds of drugs, belies Trump promise of “massive” price cuts
RENO, NV – Despite getting billions in new tax breaks thanks to the GOP tax scam, companies like Pfizer continue to raise drug prices. Pfizer, the largest pharmaceutical company in the nation by sales, received a $10.7 billion benefit in 2017 from the “Tax Cuts and Jobs Act” signed into law by President Trump last December.
Battle Born Progress Northern Nevada Organizer, Natalie Hernandez released the following statement:
“The billions in tax cuts Pfizer received from the GOP tax scam last year are used strictly to line the pockets of its executives and shareholders while working Americans pay the price. Since receiving billions in savings from the tax scam, Pfizer has further jacked up prices for widely used prescription drugs and even cut Alzheimers and Parkinsons research American families are depending on. Trump hasn’t just lied to us about the benefits of the Trump tax scam going to low and middle-income families; he also lied about pharmaceutical companies cutting drug prices as a result of their immense tax breaks. Billions in giveaways to the biggest pharmaceutical companies didn’t help working families but instead helped further enrich wealthy corporations and millionaire CEOs.”