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Tax Credits for Medical Research: Boosting New Drugs and Vaccines.

This bill introduces new tax credits for companies conducting research on drugs and vaccines. The aim is to encourage the development of new medical countermeasures, potentially accelerating access to innovative therapies and protecting public health. Citizens may benefit from faster availability of new medications and vaccines.
Key points
Companies researching drugs and vaccines will receive additional tax credits.
The goal is to speed up the development of new medical solutions, such as drugs and vaccines.
These changes could lead to quicker access to innovative healthcare solutions for citizens.
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Additional Information
Print number: 118_HR_5207
Sponsor: Rep. Buchanan, Vern [R-FL-16]
Process start date: 2023-08-15
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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

To amend the Internal Revenue Code of 1986 to add a new medical research component to the credit for increasing research activities.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_5207.

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 2023-08-15.

What are the main provisions?

Key points include:

  • Companies researching drugs and vaccines will receive additional tax credits.
  • The goal is to speed up the development of new medical solutions, such as drugs and vaccines.
  • These changes could lead to quicker access to innovative healthcare solutions for citizens.
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. Buchanan, Vern [R-FL-16].

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 2025-12-25.

CATEGORIES

Taxes Health