Wyden Releases New Findings in Ongoing Pharma Tax Investigation

Press Release

"Democrats warned in 2017 that the Republican tax law was going to amount to a massive giveaway to multinational corporations, and here's the proof that that's exactly what happened. Republicans handed Big Pharma a 40 percent tax cut," Wyden said. "There's no question that the tax system was broken prior to 2017, but instead of fixing it, Republicans gave Big Pharma a green light for some of the most aggressive tax gaming highly trained accountants can dream up. The result is that Big Pharma gets us coming and going--they charge Americans sky high prices and they pay absolute rock-bottom taxes, not anywhere near a fair share. It's simply appalling that multinational drug companies raking in many billions of dollars in profits are paying taxes at lower rates than middle class families. Democrats are focused on fixing our international tax code, cracking down on tax gaming and ensuring corporations including Big Pharma pay a fair share."

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