Will Pharma Use A Tax Break To Create New Jobs? That’s Not What Happened Last Time
Drug makers are promising to create tens of thousands of American jobs if President Donald Trump follows through on his promise to give them a big tax break if they “repatriate” cash they’ve stashed overseas.
But that’s not what happened last time pharma got a tax holiday.
Instead, drug makers used the tens of billions they brought back to the US to enrich their CEOs and drive up their stock prices. Rather than adding jobs, they laid off thousands of workers.
But that’s not what happened last time pharma got a tax holiday.
Instead, drug makers used the tens of billions they brought back to the US to enrich their CEOs and drive up their stock prices. Rather than adding jobs, they laid off thousands of workers.