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Proposal to Repeal the Orphan Drug Tax Credit.

Discussion in 'Action Alerts and Advocacy' started by Ema, Mar 9, 2014.

  1. Ema

    Ema Senior Member

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    Buried within the draft tax reform proposal released last Wednesday by House Ways & Means Committee leadership is a proposal to eliminate incentives for drug manufacturers to develop therapies to treat and cure the more than 7,000 rare diseases afflicting more than 30 million Americans.

    The Congressional Joint Committee on Taxation estimates that repealing the Orphan Drug Tax Credit will save the government $9.1 billion over the next 10 years – but the true cost of ending the program will come in the form of lost hope, continued suffering, and countless lives lost when needed new medicines are not developed.

    Read more: http://thehill.com/blogs/congress-b...-government-savings-over-saving#ixzz2vU2j15pO
    Follow us: @thehill on Twitter | TheHill on Facebook
     
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  2. Ema

    Ema Senior Member

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    A kind member of another forum offered this template to be customized to your own specific situation:


     
  3. Ema

    Ema Senior Member

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    Nielk likes this.
  4. Ema

    Ema Senior Member

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    I simplified:

    Stop Tax Reform Act of 2014, Section 1, Title IIV: Excise Taxes, Section 7005

    I am requesting your support to eliminate the subject section from the Draft Tax Reform Act of 2014, released by the Ways and Means Committee on 26 February 2014.

    This repeal would eliminate important tax incentives for pharmaceutical companies to conduct and/or finance research to develop orphan drugs to treat and cure rare diseases, that otherwise have no chance of being developed due to lack of profitability.

    The repeal would eliminate current law that provides for a taxpayer to claim a credit equal to 50 percent of qualified clinical testing expenses incurred in testing certain drugs for rare diseases or conditions, often referred to as “orphan drugs.” Expenses taking into account for purposes of the orphan drug credit do not qualify for the general research credit.

    There are more than 7,000 rare diseases afflicting more than 30 million Americans. I suffer from one of these diseases.

    This repeal would significantly limit the chances for a new drug to be developed that would give me my life back. Please do not allow this to happen to me, or to the millions of others who suffer from rare and as yet un-curable diseases.

    Sincerely,
     
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