Sen. Franken Wants to End Tax Deductions on Drug Promotion

(MoneyWatch)  Senator Al Franken, D-Minn., has introduced a bill ending tax deductibility for drug advertising and promotion, according to MinnPost.com.

This propopsal was previously though to be dead, although President Obama's chief of staff, Rahm Emmanuel, and Sen. Charlie Rangel, D-N.Y., both have sympathy for it. Here's Franken's logic:

"This legislation will remove these benefits so pharmaceutical companies can focus on developing new drugs, not excessive marketing schemes," Franken said in a statement.

He added that "there's no reason for drug companies to be getting a boost from taxpayers while Minnesota families are struggling to pay the costs of health care."

Franken believes the measure will save taxpayers $3.5 billion. (And he wants the public option.)

And finally: It still feels weird to type the words "Senator Al Franken."

• BNET's previous coverage of lobbying by the pharma industry:
• What the Bosses of AZ, Novartis and Schering Didn't Say in Their Healthcare Roundtable
• Amgen, AstraZeneca and Their Lobbyists Were Lead Givers to Baucus' Warchest
• Sanofi Also Linked to FreedomWorks, Group That Urged Healthcare Town Hall Disruptions; Armey Quits DLA Piper
• Sanofi Also Linked to FreedomWorks, Group That Urged Healthcare Town Hall Disruptions; Armey Quits DLA Piper
• BMS, DLA Piper Distance Selves From Healthcare Town Hall Disruptions