Establishment of a $100 Billion Biomedical Innovation Fund
This Act establishes the Biomedical Innovation Fund, requiring the Secretary of the Treasury to transfer $10 billion annually from 2025 through 2034. These funds are to be distributed to the National Institutes of Health (NIH) and the Food and Drug Administration (FDA) to support basic research, disruptive innovation, and early-career scientists. The distribution of funds is conditional on Congress maintaining discretionary appropriations for these entities above a specified minimum amount.
Key points
Transfers $10 billion annually from the general fund to the Biomedical Innovation Fund through 2034.
Funds are designated for research on chronic diseases, disruptive therapies, and supporting diversity in science.
Distribution is contingent on discretionary appropriations for NIH and FDA remaining above baseline levels.
Status:
Expired
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