New Tax Credit for Medical Research on Countermeasures
This bill creates a new tax credit for companies conducting research on specific medical countermeasures. The goal is to encourage investment in research that could lead to new treatments or therapies. Companies can claim a 14% credit on qualified research expenses.
Key points
Establishes a 14% tax credit for expenses related to research on specified medical countermeasures.
The credit applies to costs incurred after the law is enacted.
Prevents companies from claiming the same research costs under multiple tax benefits.
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