Tag Archives: tax credit
Today, the House Ways and Means Committee considered legislation (HR 880) to make the R&D tax credit permanent. A simplified, permanent R&D tax credit would amplify the credit’s proven positive impact on the pace of innovation and the strength of our economy. Read our statement submitted for the record here. We know from recent polling that Americans value the R&D tax credit, even if the federal government loses some revenue annually. This and more poll data will be highlighted in our 2015 Poll Data Summary next week, so keep an eye out for this timely read!
Tax reform is one component of the policy climate in which R&D flourishes…or doesn’t. Dr. Mark McClellan, Research!America Board member and Director of the Health Care Innovation and Value Initiative at Brookings, has co-authored two relevant articles in the February issue of Health Affairs: one that looks at ways to bolster the inadequate pipeline of high priority antibiotics as resistant strains of infectious illness proliferate; and a second article that discusses approaches to assessing the “innovativeness” of medical advances. The significance of the former is self-evident. The significance of the latter is multi-faceted, but one important reason to gauge “innovativeness” is to help answer the value question central to reimbursement decisions and other policies. There is no easy way to assign the “right” value to products that could have broad-scale, tangible and intangible, short- and long-term impact on our health, wellbeing and productivity, the economy, federal, state and local budgets, national security, and more. This is an important undertaking, since if we don’t understand exactly where medical progress falls among our national and individual priorities, we are bound to under- or over-incentivize it. And that’s costly on many, many levels. Both of the studies Mark contributed to are well worth the read. Continue reading →
Dear Research Advocate:
Congress continues to pay particular attention to – and make decisions bearing on – the pace of medical progress. To briefly count the ways:
The Senate Labor-HHS Appropriations subcommittee heard testimony yesterday from agency heads within HHS about the significance of health-related spending, including spending on medical and health research. Read our written testimony here.
Congressman Upton (R-MI-06), the Chair of the House Energy and Commerce Committee (which has jurisdiction over authorizing legislation for NIH, CDC, FDA and AHRQ) and Congresswoman Diana DeGette (D-CO-01), a member of the Committee, launched their 21st Century Cures initiative with a roundtable discussion focused on identifying what actions are necessary to maintain our nation’s place as the world’s innovation leader. While Reps. Upton and DeGette are champions of research who should be commended for working to strengthen U.S. medical innovation, there is always the risk that Congress will veer into micromanagement of NIH, stymie FDA’s efforts to ensure that private sector innovators are rewarded for ensuring the safety and efficacy of their medical advances, or “hold off” on providing the funding needed to accelerate medial progress until longer-term strategies are in place. Your participation can help make this effort a success, and the initiative has established an email address you can use if you wish to give input: email@example.com.
So that’s the good. Continue reading →