What is the official ID of this bill?
The official print number for this legislation is HR 2653.
US Medical Manufacturing Support: Tax Breaks and Supply Chain Security
This act aims to strengthen domestic production of medicines and medical equipment, especially in economically distressed areas. It introduces tax incentives for companies manufacturing in these regions and supports the return of production from abroad. This should ensure better access to critical medical products and enhance citizens' health security.
Key points
Companies producing medicines and medical equipment in designated economically distressed zones can receive significant tax credits, potentially leading to new job creation.
Greater incentives are provided for companies that repatriate medical manufacturing from foreign countries deemed risky for the supply chain.
The act supports the development of medical products crucial for protecting vulnerable populations, such as children, the elderly, and minorities, especially in the face of pandemics.
Status:
Expired
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