[Congressional Record Volume 149, Number 32 (Thursday, February 27, 2003)]
[Senate]
[Page S2935]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]

      By Mr. FEINGOLD (for himself, Mr. Leahy, and Mr. Dayton):
  S. 477. A bill to amend the Internal Revenue Code of 1986 to disallow 
deductions and credits for companies who discriminate against Canadian 
pharmacies that pass along discounts to consumers living in the United 
States; to the Committee on Finance.
  Mr. FEINGOLD. Mr. President, I rise today to introduce legislation on 
behalf of Wisconsin's seniors and taxpayers whose wallets are being 
gauged by certain pharmaceutical companies. My legislation is in 
response to certain pharmaceutical companies' decision to target 
seniors who are crossing into Canada to get more affordable 
prescription drugs for their own use.
  If these pharmaceutical companies are going to price gauge seniors's 
wallets, they don't deserve the taxpayers' support.
  A growing number of American seniors are obtaining their prescription 
drugs from Canada for personal use.
  Unfortunately, many of these seniors who are crossing the boarder to 
access more affordable prescription drugs for their personal use are 
being targeted by the very pharmaceutical companies that receive 
millions in tax breaks.
  I recently received a call from seniors in my state that Glaxo Smith 
Klein had decided to stop supplying Canadian pharmacies that resell its 
drugs to Americans, thereby preventing them from receiving the same 
benefits these pharmacies provide to Canadians.
  The Seniors in my State were not the only ones who took notice of 
this action. On February 21st of this month, Seniors groups from 12 
States, including Wisconsin, sent Glaxo a message by launching a 
boycott of nonprescription products of Glaxo-Smith-Kline.
  Congress should also send all pharmaceutical companies a message that 
this practice simply is unacceptable.
  I think the single most important step we can take is to modernize 
Medicare and make it better is to eliminate the current inequities in 
the Medicare system and provide the prescription drug coverage senior 
citizens need.
  At the same time Congress should pass legislation, that Senators 
Schumer, McCain, and I introduced that would bring lower-cost generic 
drugs to the market faster and lower the cost of prescription drugs by 
$60 billion.
  Until we pass a comprehensive prescription drug benefit, we must 
ensure that seniors are not targeted by pharmaceutical companies. If 
these drug companies actively discriminate against American seniors, we 
should not provide them tax breaks.
  That's why my legislation would deny tax breaks to drug companies who 
discriminate against Canadian pharmacies that provide Americans the 
same discount that they provide to Canadians.
  I urge my colleagues to join me in cosponsoring this legislation.
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