Tag Archives: Eli Lilly

Bolstered by Trump Tax Scam, Number of US Corporations Paying ‘Not a Dime’ in Federal Taxes Doubled in 2018

“Corporations zeroing out their tax bills or paying single-digit federal tax rates mean a substantial loss in federal revenue. Calls to cut critical programs and services in the wake of these corporate tax cuts are absolutely connected.”

By Eoin Higgins, staff writer for Common Dreams. Published 4-11-2019

Steve Mnuchin, Mike Pence and Gary Cohn watching the Senate vote on the 2017 tax bill. Photo: White House

A new analysis out Thursday shows that tax policy under the Trump administration is benefitting large corporations to such a degree that twice as many large companies will pay nothing in federal taxes for 2018 compared to previous years.

The report by the Institute on Taxation and Economic Policy, which comes less than a week before tax day in the United States on April 15, found that 60 companies—including Amazon, Netflix, Activision Blizzard, General Motors, and IBM—used “a diverse array of legal tax breaks” to bring their federal tax liability to zero. Continue reading

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‘No One Should Be Fooled’: Warren Rips Trump’s HHS Pick Over Desire to Gut Medicaid

“You want to smile and pretend otherwise until you get the job,” Warren said.

By Jake Johnson, staff writer for CommonDreams. Published 1-9-2018

Alex Azar. Screenshot: YouTube

While President Donald Trump’s Health and Human Services (HHS) nominee Alex Azar—a former pharma executive—spent most of his Senate confirmation hearing on Tuesday ducking and dodging pointed questions about his long history of “price gouging,” Sen. Elizabeth Warren (D-Mass.) decided to call Azar out on his support for gutting Medicaid and turning the program into a block grant.

After Azar suggested he supports block granting Medicaid as a “concept to look at” but refused to say whether he would move in that direction if confirmed, Warren said, “Mr. Azar, you can own up to the fact that you want to cut Medicaid and gut the Affordable Care Act, like every other member of the Trump administration.”

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Tom Price Bought Drug Stocks. Then He Pushed Pharma’s Agenda in Australia

by Robert Faturechi ProPublica, June 1, 2017, 8 a.m.

Tom Price. Photo: Gage Skidmore [CC BY-SA 2.0], via Wikimedia Commons

In the spring before the 2016 presidential election, the Obama administration’s 12-nation trade agreement known as the Trans-Pacific Partnership, or TPP, was still alive. Negotiators worked on details as Congress considered whether to ratify the pact.

The Australian government was getting in the way of one change demanded by U.S. pharmaceutical companies. Makers of cutting-edge biological drugs wanted to have data from their clinical trials protected from competitors for 12 years, as they are under U.S. law 2014 not the roughly five years permitted under the TPP. Australian officials insisted that an extension would deprive consumers of cheaper alternatives for too long. Continue reading

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