arrow_back Civic Audit
Share share

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 notifications_active Track this Bill
gavel
Status:
Expired
Record your position for audit.
Why does your vote on bills matter?
It creates raw, undeniable proof. Civic Will provides the permanent data to verify the Government's loyalty towards its citizens (explained here). Start recording it now.
Additional Information
Print number: 117_HR_7166
Sponsor: Rep. Mooney, Alexander X. [R-WV-2]
Process start date: 2022-03-18