Boosting US Drug & Medical Device Production: Tax Credits & Transparency
This act aims to increase the domestic manufacturing of drugs, pharmaceutical ingredients, and medical devices in the United States. It introduces tax credits for companies producing these items in economically distressed areas, potentially creating jobs and improving the availability of critical medical products. Additionally, it enhances transparency and coordination in drug quality inspection processes to prevent shortages.
Key points
Companies manufacturing drugs, pharmaceutical ingredients, and medical devices in the U.S. may receive tax credits, especially if operating in high-poverty areas.
Increased transparency and better coordination in drug quality inspections by government agencies to help prevent drug shortages.
Support for the development of new drug manufacturing technologies to make processes more efficient and resilient to disruptions.
Status:
Expired
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