Bill would double orphan drug research tax credit
In committeeH.R. 1414Latest action
Sponsor: Josh Gottheimer · Representative · NJ
AIDecoded by AI · checked against the recordRead the official text
Official title: Cameron’s Law
119th Congress
Topics: Jobs & the economy
Introduced:
Read the official bill on Congress.govIn plain words
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HR 1414 would double the for companies researching rare-disease drugs, from 25 cents to 50 cents per dollar spent.
35-second read · 4 questions answered below
What does this do?
This bill would raise the that pharmaceutical companies can claim for researching rare-disease drugs. The credit would go from 25 cents to 50 cents for every dollar spent on qualifying research and testing. The change would take effect in the first tax year after the bill becomes law.
Who does it affect?
Pharmaceutical companies that develop drugs for rare diseases would be directly affected by this change.
Why does it matter?
A higher makes it less costly for companies to research rare-disease drugs, which tend to reach very small numbers of patients. Developing these drugs can otherwise be unprofitable because so few people need them.
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Where does it stand?
- IntroducedFeb 18, 2025
- House committeeYou are here · Feb 18, 2025
- House vote
- Senate
- The president's desk
Right now: a House committee is reviewing it. If the Senate changes it, it goes back to the House before reaching the president.
Latest action: — Referred to the House Committee on Ways and Means.