CFIF Joins Coalition Opposing Pelosi Drug Tax Plan |
Tuesday, October 15 2019 |
The Center for Individual Freedom (“CFIF”) today joined a coalition letter signed by 70 organizations and activists in opposition to House Speaker Nancy Pelosi’s drug pricing proposal (H.R. 3). The letter, addressed to Congress and which was organized by Americans for Tax Reform, is pasted below or can be read here. October 15, 2019 Dear Members of Congress: We write in opposition to the prescription drug pricing bill offered by House Speaker Nancy Pelosi that would impose an excise tax of up to a 95 percent on hundreds of prescription medicines. In addition to this new tax, the bill imposes new government price controls that would decimate innovation and distort supply, leading to the same lack of access to the newest and best drugs for patients in other countries that impose these price controls. Under Speaker Pelosi’s plan, pharmaceutical manufacturers would face a retroactive tax of up to 95 percent on the total sales of a drug (not net profits). This means that a manufacturer selling a medicine for $100 will owe $95 in tax for every product sold with no allowance for the costs incurred. No deductions would be allowed, and it would be imposed on manufacturers in addition to federal and state income taxes they must pay. The alternative to paying this tax is for the companies to submit to strict government price controls on the medicines they produce. While the Pelosi bill claims this is “negotiation,” the plan is more akin to theft. If this tax hike plan were signed into law, it would cripple the ability of manufacturers to operate and develop new medicines. It is clear that the Pelosi plan does not represent a good faith attempt to lower drug prices. Rather, it is a proposal that would crush the pharmaceutical industry, deter innovation, and dramatically reduce the ability of patients to access life-saving medicines. We urge you to oppose the Pelosi plan that would impose price controls and a 95 percent medicine tax on the companies that develop and produce these medicines. Sincerely, Grover Norquist James L. Martin Saulius “Saul” Anuzis Dick Patten Phil Kerpen Daniel Schneider Steve Pociask Lisa B. Nelson Michael Bowman Dee Stewart Tom Giovanetti Norm Singleton Ryan Ellis Andrew F. Quinlan Jeffrey Mazzella Ginevra Joyce-Myers Peter J. Pitts Olivia Grady Chuck Muth David McIntosh Curt Levey Iain Murray James Edwards Matthew Kandrach Fred Cyrus Roeder Tom Schatz Katie McAuliffe Richard Watson Adam Brandon George Landrith Grace-Marie Turner Naomi Lopez The Honorable Frank Lasee Jessica Anderson Rodolfo E. Milani Mario H. Lopez Carrie Lukas Heather R. Higgins Merrill Matthews Chris Ingstad Sal Nuzzo The Honorable Paul R LePage Seton Motley Doug McCullough Mary Adams Matthew Gagnon Victoria Bucklin Charles Sauer Jameson Taylor, Ph.D. The Honorable Tim Jones Brent Mead Pete Sepp The Honorable Bill O'Brien The Honorable Beth A. O’Connor The Honorable Niraj J. Antani Douglas Kellogg Honorable Jeff Kropf Daniel Erspamer Lorenzo Montanari Paul Gessing James L. Setterlund Karen Kerrigan David Miller & Brian Shrive Tim Andrews Judson Phillips David Balat Sara Croom Kevin Fuller |
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