WASHINGTON — The tax overhaul that Republicans hope to send to President Trump’s desk next week is expected to lighten the tax burden on the pharmaceutical industry and provide a number of other benefits that could help drug makers boost their bottom lines.
The final version of the bill, released late Friday, retains a key tax credit aimed at incentivizing research into rare disease treatments — an improvement over an early draft that repealed it for the industry. The package will also lower the tax rate companies have to pay on earnings they stockpiled overseas, though the final rate is higher than in earlier drafts.
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Nice to see that our 1500 lobbyists on K Street finally got off their collective asses and did something for a change.