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Congress urges feds to examine drug companies aiming to turn opioid settlements to tax breaks
Douglas MacMillanWashington Post
14 Mar 2022
Congress is calling on federal officials to review the plans of four large drug companies to deduct the cost of a landmark opioid settlement from their taxes, after its year-long investigation into corporate disclosures first revealed in an analysis by The Washington Post.
On Thursday, the House Committee on Oversight and Reform sent a letter asking the Justice and Treasury departments to examine planned deductions from Johnson & Johnson, McKesson, Cardinal Health and AmerisourceBergen. The four firms are seeking tax breaks that would help offset the cost of a $26 billion legal settlement finalized last month, to bring funds to communities hurt by the opioid epidemic.
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