U.S. Congressmen Drew Ferguson (R-Ga.) and Brad Wenstrup (R-Ohio), members of the House Ways and Means Committee and the GOP Doctors Caucus, introduced the American Made Medicine Act. This legislation will strengthen America’s domestic medical supply chains, create good, high-paying jobs in the United States in this critical sector, and enhance our national security. The bill will also incentivize key investments in American pharmaceutical and medical manufacturing infrastructure to produce high-quality personal protective equipment (PPE), including surgical masks, respirators, gloves, and gowns, to reduce our reliance on foreign-made goods.

“America should be the world leader in innovative and cutting-edge medical manufacturing,” Congressman Ferguson said. “In the interest of national security and pandemic preparedness, I am proud to join Congressman Wenstrup in introducing the American Made Medicine Act. This important legislation will enhance U.S. based pharmaceutical and medical manufacturing as we work to restore American competitiveness with China and on the world stage. Incentivizing domestic production will not only support good, high-paying U.S. jobs, it will also reverse our reliance on foreign manufacturing. Further, I’m pleased that this bill will invest in a rust belt revitalization by rehabilitating existing manufacturing facilities and equipment to meet today’s regulatory standards.”

"We never should have gotten to a place where we are reliant on China and other strategic adversaries for our nation’s PPE, pharmaceuticals, and medical devices. The COVID-19 pandemic revealed these critical vulnerabilities in America’s medical supply chains," said Congressman Wenstrup. "America can and should continue to be the world’s leader in medical innovation and advanced medical manufacturing. I’m proud to introduce this legislation with Rep. Ferguson, which supports the creation of new medical manufacturing jobs in the United States while also helping to create a stable domestic supply of critical drugs and medical supplies that are crucial to the health and safety of American patients."

Background:

The American Made Medicine Act would:

• Lower the tax rate on the income attributable to our nation’s manufacturing and sales of active pharmaceutical ingredients and medical countermeasures, to include nitrile gloves;
• Institute a 30% investment tax credit that phases out over 10 years for investments in advanced manufacturing equipment or machinery used in the U.S. to manufacture drugs, medical devices, or biological products;
• Enable U.S.-based pharmaceutical manufacturing to increase its competitiveness with China and other foreign countries;
• Allow advanced manufacturing to use processes that depend on the coordination of information, automation, computation, software, sensing, and networking, and makes use of cutting-edge materials and emerging scientific capabilities; and
• Provide a 30% investment tax credit that phases out over 10 years for investments in equipment and property that is used to meet emissions standards under the Clean Air Act or the Clean Water Act.

Click here to read the full bill text.

Original source can be found here.