MMEDS Act of 2023

Hozzl · 2024-06-12T18:17:47Z

Explore the details of Senate Bill 33 MMEDS Act of 2023 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

6/12/2024, 6:17 PM

Summary of Bill S 33

Bill 118 s 33, also known as the MMEDS Act of 2023, is a piece of legislation currently being considered by the US Congress. The main purpose of this bill is to establish a national database for monitoring and managing the distribution of medical supplies and equipment during public health emergencies.

The MMEDS Act of 2023 aims to improve coordination and communication between federal, state, and local agencies in times of crisis by creating a centralized system for tracking the availability and distribution of essential medical resources. This database would include information on the location and quantity of items such as personal protective equipment, ventilators, and other critical supplies needed to respond to emergencies like pandemics, natural disasters, or terrorist attacks.

Additionally, the bill seeks to enhance transparency and accountability in the procurement and allocation of medical supplies by requiring regular reporting on inventory levels, distribution patterns, and any discrepancies or shortages that may arise. By implementing these measures, the MMEDS Act of 2023 aims to ensure that healthcare providers and first responders have access to the resources they need to effectively respond to emergencies and save lives. Overall, the MMEDS Act of 2023 represents a bipartisan effort to strengthen the nation's preparedness and response capabilities in the face of future public health crises. If passed, this legislation has the potential to improve the efficiency and effectiveness of our healthcare system during times of need.

Congressional Summary of S 33

Medical Manufacturing, Economic Development, and Sustainability Act of 2023 or the MMEDS Act of 2023

This bill provides incentives for relocating medical manufacturing facilities in the United States and for manufacturing medical products (i.e., drugs and devices) in economically distressed zones. Specifically, the bill allows a income tax credit for 40% of the sum of wages paid in a medical product manufacturing economically distressed zone, employee fringe benefit expenses, and depreciation and amortization allowances with respect to qualified medical product manufacturing facility property, and a credit for economically distressed zone products and services acquired by domestic medical product manufacturers..

The bill also directs the Department of Health and Human Services to study the extent to which the health of aging individuals and vulnerable populations have been disproportionately harmed by the COVID-19 (i.e., coronavirus disease 2019) pandemic and prior epidemics and pandemics.

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Current Status of Bill S 33

Bill S 33 is currently in the status of Bill Introduced since January 24, 2023. Bill S 33 was introduced during Congress 118 and was introduced to the Senate on January 24, 2023. Bill S 33's most recent activity was Read twice and referred to the Committee on Finance. as of January 24, 2023

Bipartisan Support of Bill S 33

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill S 33

Primary Policy Focus

Taxation

Potential Impact Areas

- Aging

- Business expenses

- Business investment and capital

- Cardiovascular and respiratory health

- Community life and organization

- Congressional oversight

- Drug safety, medical device, and laboratory regulation

- Economic development

- Emergency medical services and trauma care

- Government studies and investigations

- Health technology, devices, supplies

- Income tax credits

- Income tax deductions

- Industrial facilities

- Infectious and parasitic diseases

- Manufacturing

- Minority health

- Public-private cooperation

- Research administration and funding

- Research and development

- Unemployment

- Veterans' medical care

- Wages and earnings

Alternate Title(s) of Bill S 33

MMEDS Act of 2023

Medical Manufacturing, Economic Development, and Sustainability Act of 2023

MMEDS Act of 2023

A bill to rescue domestic medical product manufacturing activity by providing incentives in economically distressed areas of the United States and its possessions.