It is critical that the Amgen $500 million tax credit be repealed. A few Senators provided Amgen a massive $500 million tax credit that was not deserved because of lobbyist actions.
Why is this important?
In December 2012 Amgen pleaded guilty to improper marketing of its anemia drug to cancer patients. They agreed to pay a fine of $762 million in a civil settlement and criminal fines. Amgen lobbyists had an idea to inject a $500 million tax credit into the Fiscal Cliff bill with the help of some Senators. There was no rationale in providing this huge tax credit other than politics as usual. The Fiscal Cliff bill passed and Amgen received a non-deserved $500 million tax credit.
