Pfizer Hikes Prices Despite Big Windfall Under Vukmir-Nicholson Tax Law

Jul 03, 2018

For Immediate Release
Tuesday, July 3, 2018
Contact: Brad Bainum, bradb@wisdems.org

Pfizer Hikes Prescription Drug Prices Despite Big Windfall Under
Vukmir, Nicholson-Backed Tax Law

GOP tax law spikes health care premiums and sends more than 80 percent of cuts to the richest 1 percent and big corporations like Pfizer

MADISON — Another day, another sign that the Republican tax law supported for U.S. Senate candidates Leah Vukmir and Kevin Nicholson is disproportionately a giveaway to large corporations and the wealthiest Americans: Despite receiving an $11,000,000,000 windfall under the GOP tax law that passed in December, Big Pharma giant Pfizer is now raising prices on more than 40 prescription drugs.

When the Republican tax law passed in December, Vukmir claimed it would be “good for everybody” — but, sure enough, the tax law that sends 83 percent of benefits to the richest 1 percent and large corporations is… mostly benefiting large corporations and the wealthiest 1 percent of Americans, while hardworking Wisconsinites get left behind. 

The Republican tax law:

Now — as big corporations like Pfizer take their tax breaks then hike consumer costs, anyway — Washington Republicans are using the tax law’s passage as an excuse to pass Vukmir and Nicholson-endorsed deep cuts to Social Security, Medicare, and Medicaid — the latter of which provides coverage for 3 in 5 Wisconsin nursing home residents.

“Leah Vukmir and Kevin Nicholson are bought and paid for by corporate special interests and running to protect this same brand of Washington corruption that lets drug companies like Pfizer reap billions in tax giveaways, then turn around and arbitrarily hike prices on hardworking Wisconsinites,” said Brad Bainum, DPW spokesperson for the 2018 Senate race.