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Cameron’s Law
3/17/2025, 12:53 PM
Summary of Bill HR 1414
The bill seeks to increase the tax credit for qualified clinical testing expenses related to orphan drugs from 50% to 75%. This increase in the tax credit would provide additional financial support to pharmaceutical companies conducting research and development for orphan drugs, ultimately leading to more treatments and cures for rare diseases.
Supporters of the bill argue that restoring the orphan drug tax credit will incentivize pharmaceutical companies to invest in research and development for rare diseases, ultimately benefiting patients with rare diseases who may not have access to effective treatments. Critics, however, may argue that increasing the tax credit could lead to higher healthcare costs for consumers. Overall, Bill 119 HR 1414 aims to support the development of orphan drugs by providing additional financial incentives to pharmaceutical companies. The bill is currently under consideration in the US Congress and its impact on the healthcare industry and patients with rare diseases remains to be seen.
Congressional Summary of HR 1414
Cameron's Law
This bill increases the orphan drug tax credit to 50% (from 25%) of qualified clinical testing expenses paid or incurred in the development of drugs to treat certain rare diseases or conditions.
As background, the Tax Cuts and Jobs Act reduced the orphan drug tax credit (for tax years after 2017) to 25% of qualified clinical testing expenses (e.g., wages, supplies, and certain contract expenses) paid or incurred in the development of drugs to treat certain rare diseases or conditions. For 2017 and prior tax years, the orphan tax credit was 50% of such expenses paid or incurred.
Current Status of Bill HR 1414
Bipartisan Support of Bill HR 1414
Total Number of Sponsors
1Democrat Sponsors
1Republican Sponsors
0Unaffiliated Sponsors
0Total Number of Cosponsors
8Democrat Cosponsors
4Republican Cosponsors
4Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 1414
Primary Policy Focus
Alternate Title(s) of Bill HR 1414
Comments
Tate Godfrey
1 year ago
I don't think this bill is a good idea. It will cost the government a lot of money and I'm not sure if it will actually help those in need. How will this impact our economy in the long run?
