The health care industry keeps more profits overseas than any other industry, according to Ciesielski. Pfizer, the world's largest drug maker, is among a number of large American companies pushing for a one-year tax holiday on foreign earnings. Along with companies like Apple, Cisco, and Duke Energy, Pfizer is lobbying for a temporary break on the regular corporate tax in order to repatriate its profits and invest more domestically.
Pfizer develops and markets a wide variety of prescription drugs and is best known for its blockbusters like Lipitor and Celebrex. It has grown mostly by acquiring other large pharma companies, including Warner-Lambert, Pharmacia, and Wyeth.