Democrats scrutinize pharma's tax strategies amid Senate debate on Trump's plan
Democratic lawmakers Elizabeth Warren and Jan Schakowsky have criticized major pharmaceutical companies like Pfizer, Merck, J&J, AbbVie, and Amgen for paying little to no federal taxes by shifting profits offshore, and are questioning their support for extending tax cuts in the GOP reconciliation bill. They highlight the practice enabled by the 2017 Tax Cuts and Jobs Act, which they argue benefits wealthy corporations at the expense of American taxpayers, and are seeking responses from these companies about their lobbying efforts and tax liabilities. The issue is part of broader legislative debates over tax reform and pharmaceutical pricing.