House committee calls on DOJ to investigate companies' opioid settlement tax benefits
Four companies that allegedly helped fuel the opioid epidemic recently agreed to pay about $26 billion to settle thousands of related lawsuits, but they also may use certain tax benefits for their settlement expenses, House Oversight Committee Chair Carolyn Maloney and colleagues recently wrote to Attorney General Merrick Garland and Treasury Secretary Janet Yellen.
Last March, the Oversight leaders questioned the companies — Cardinal Health, McKesson, AmerisourceBergen, and Johnson & Johnson — on reported plans to use a tax provision in the Coronavirus Aid, Relief, and Economic Security (CARES) Act to increase deductions for settlement costs related to their role in fueling the US opioid crisis.
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