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Boosting US Drug Production: Tax Breaks for Pharmaceutical Companies

This act introduces new tax breaks and credits for companies manufacturing medicines and their ingredients in the United States. The goal is to encourage the return of pharmaceutical production to the country, potentially impacting drug availability and supply security for citizens.
Key points
Pharmaceutical companies will be able to deduct costs of new equipment and buildings used for drug manufacturing in the US more quickly.
A new tax credit of 50% of qualified expenditures for US pharmaceutical production will be introduced, covering wages, equipment purchases, and other costs.
The aim is to increase domestic drug production, potentially reducing reliance on foreign suppliers and improving health security.
article Official text account_balance Process page
Expired
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Additional Information
Print number: 117_HR_7166
Sponsor: Rep. Mooney, Alexander X. [R-WV-2]
Process start date: 2022-03-18
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Make Medicine in America Again Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_7166.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2022-03-18.

What are the main provisions?

Key points include:

  • Pharmaceutical companies will be able to deduct costs of new equipment and buildings used for drug manufacturing in the US more quickly.
  • A new tax credit of 50% of qualified expenditures for US pharmaceutical production will be introduced, covering wages, equipment purchases, and other costs.
  • The aim is to increase domestic drug production, potentially reducing reliance on foreign suppliers and improving health security.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Mooney, Alexander X. [R-WV-2].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Taxes Health Economy