{"database": "press", "table": "releases", "rows": [["https://doggett.house.gov/media-center/press-releases/americans-tax-fairness-bernie-sanders-lloyd-doggett-demand-drug", "Americans for Tax Fairness: Bernie Sanders, Lloyd Doggett Demand Drug Companies to Stop Dodging Taxes Following Release of New Report", "2017-12-07", "2017", "2017-12", "Democrat", "House", "TX", "Lloyd Doggett", "D000399", "doggett.house.gov", null, null, "legacy", "(WASHINGTON) - A new report released today by Americans for Tax Fairness exposes just how much the pharmaceutical industry stands to gain if the Trump-GOP tax plan becomes law.\nThe report examines the profits, taxes, and drug prices of the 10 biggest U.S. pharmaceutical companies, the \u201cPharma Big 10\u201d: Johnson & Johnson, Pfizer, Merck & Co., Gilead Sciences, AbbVie, Amgen, Eli Lilly & Co., Bristol-Myers Squibb, Biogen and Celgene.\nThe report, The Pharma Big 10: Price Gougers, Tax Dodgers, finds that these 10 companies:\n jacked up the prices for 31 of their most widely-prescribed drugs by at least 40% and as much as 71% over a period from 2011 to 2015;\n\tsaw their profits jump by 39% over the same four-year period;\n\thave $506 billion in un-taxed profits stashed offshore;\n\towe an estimated $133 billion in taxes on those profits, if they are repatriated to the U.S. at the current tax rate; and\n\twill get an an estimated tax cut of $80 billion on their offshore profits if the Trump-GOP tax bill becomes law.\n The $80 billion in tax breaks the Trump-GOP tax plan will give these 10 drug companies would pay for a year-and-a-half of Medicaid drug spending or five years of healthcare for 9 million kids under the Children\u2019s Health Insurance Program.\n\u201cThis important new report highlights what we already know\u2014pharmaceutical companies are gouging the public with outrageous prescription drug prices, while dodging tens of billions of dollars in U.S. taxes on their offshore profits,\u201d said Senator Bernie Sanders (I-VT). \u201cBut instead of doing anything to rein in these tax dodgers, the Republican tax plan rewards drug companies with massive tax cuts on their current and future offshore profits. These corporations can no longer be allowed to rip off Americans, who already pay the highest prescription drug prices in the world. Instead of giving big pharmaceutical companies that are sheltering their profits overseas a massive tax break, we must demand that they pay their fair share of taxes so that we can rebuild the disappearing middle class.\u201d\n\u201cAs American taxpayers pay top dollar for drugs, drug manufacturers pay low dollar on their taxes by exploiting loopholes to avoid their fair share of the costs of our national security, education system, and medical research,\u201d said Representative Lloyd Doggett (D, TX-35), who is the ranking member on the Tax Policy Subcommittee of the House Ways and Means Committee. \u201cThe pending Republican tax bill will only worsen this offshore tax dodging. Their tax scam rewards the same companies that deny access to life-saving medications for too many Americans and force others to ration costly doses.\u201d\n\u201cThe massive tax cuts being forced through by Donald Trump and the GOP are a huge giveaway to the drug industry, whose price gouging and tax dodging is hurting seniors, families and taxpayers,\u201d said Frank Clemente, Executive Director of Americans for Tax Fairness. \u201cThis report uncovers the extent to which drug companies have jacked up prices to reap enormous profits and used special tax breaks and loopholes to dodge paying their fair share. It adds to the increasing evidence that the Trump-GOP tax plan is a scam that rewards the well-connected at the expense of working families.\u201d\nThe full report can be found HERE.", 1, "2026-03-30T12:14:52Z", "2026-03-30T12:14:52Z"]], "columns": ["url", "title", "date", "year", "month", "party", "chamber", "state", "member_name", "bioguide_id", "domain", "scraper", "source", "date_source", "text", "has_text", "collected_at", "updated_at"], "primary_keys": ["url"], "primary_key_values": ["https://doggett.house.gov/media-center/press-releases/americans-tax-fairness-bernie-sanders-lloyd-doggett-demand-drug"], "units": {}, "query_ms": 1.9637718796730042, "source": "dwillis/congress-press", "source_url": "https://github.com/dwillis/congress-press", "license": "MIT", "license_url": "https://github.com/dwillis/congress-press/blob/main/LICENSE"}