On Friday, the US Supreme Court struck down the US tax law known as the Johnson Amendment, a provision that would have made it illegal for American companies to spend billions of dollars on overseas research, development, and marketing.
The Johnson Amendment was a provision passed by Congress to prevent foreign governments from using tax dollars to buy American companies.
Under the Johnson amendment, US companies would have to spend less than 2% of their profits on research and development in order to get approved for overseas sales.
The tax bill passed by the House of Representatives in June would have allowed American companies like Pfizer and Johnson & Johnson to avoid paying the tax on overseas sales of over $1 billion.
It was defeated by a vote of 219-187.
However, the ruling does not change the fact that multinational corporations like Pfizers and Johnson&.
Johnson have huge influence in the US, where they account for over 70% of the total US market share.
As a result, US corporations have been able to shift their profits overseas, which has had a major impact on US manufacturing and the American economy.
The decision is the latest in a series of corporate tax breaks that corporations have used to shift profits overseas.
The US is the fifth-largest economy in the world and, according to a 2015 report by the Institute for Policy Studies, over 90% of US corporate profits are held in the United States.
The government has been trying to get companies to shift overseas earnings for a while now.
The last major attempt was made in the mid-1990s, when the government tried to convince companies to bring their profits home.
The effort failed because it did not have enough money.
This year, the government has announced a new effort called the Trans-Pacific Partnership (TPP), a massive trade agreement between the US and 11 other Pacific Rim nations.
While the deal is a boon for multinational corporations, it has also brought some of the most extreme tax breaks to corporations in the country.
As Vox has reported, the TPP has been widely criticized for offering multinational corporations tax breaks for things like paying less than 0.5% in taxes, but only after paying an enormous amount in corporate taxes.
In the past, corporate tax rates were high, but those benefits were often passed on to consumers.
The TPP would likely make that process even more complex, since corporations would have no incentive to make up the difference in taxes.
A 2016 report by Citizens for Tax Justice, an organization that works to make the tax system more progressive, found that if US companies spent their money on research abroad, they would end up paying more than $1 trillion in tax.
The Tax Policy Center, an independent think tank that studies tax policy, estimated that if companies spend less on research, they could save $600 billion annually.
The problem with the Johnson Act is that it has done exactly what Congress intended it to do: make it more difficult for American multinationals to shift production overseas.
As The Wall Street Journal noted in July, the Johnson bill “would have created a loophole for companies to avoid taxes on overseas profits by investing the money overseas.
But it didn’t stop them from doing that.
They could still bring the money home and use the profits to buy stock in foreign companies, even if the company has a foreign parent company.”
The result is that US corporations can shift profits from the United Nations and foreign governments to themselves.
That’s one reason why, in the past decade, the number of multinational corporations that are active in the pharmaceutical industry has skyrocketed.
As reported by the Huffington Post, the pharmaceutical and medical device industry has grown from an estimated $18.3 billion in 2010 to $72.5 billion in 2019, according of Forbes, the industry’s most recent count.
By 2018, the sector’s revenue was more than double the $30 billion it was in 2004, according the National Association of Drugstore Operators.
And this trend is only expected to continue.
The drug companies have had enough of multinationals paying more in taxes for the past several decades.
They have been getting the government to change the rules.
The pharmaceutical industry is one of the biggest players in the drug development arena.
The industry employs roughly 5.7 million people, making it one of America’s largest employers.
While it’s hard to quantify exactly how much profit is generated by drug development, it’s clear that drug companies are not doing a great job of keeping profits in the U.S. The International Drug Policy Alliance, a group of drug companies that represents the interests of over 200 companies, told the Associated Press that the Johnson administration “has made it more challenging for the pharmaceutical sector to attract foreign investment.”
In addition to the tax breaks the pharmaceutical companies have been granted, the Obama administration has also been encouraging companies to expand their operations in the developing world.
Last year, President Obama signed an executive order that called for the establishment of “new international infrastructure hubs and programs,” such