Bill Overview
Title: Make Medicine in America Again Act
Description: This bill provides tax incentives for the manufacture of pharmaceutical property, equipment, buildings, or facilities in the United States. Specifically it allows bonus depreciation for such property and a business-related tax credit for 50% of expenditures for (1) wages for services performed in a U.S. pharmaceutical manufacturing business, (2) the tangible personal property of such a business, and (3) any direct or indirect costs paid or incurred in a U.S. pharmaceutical manufacturing business.
Sponsors: Rep. Mooney, Alexander X. [R-WV-2]
Target Audience
Population: Global Pharmaceutical Consumers
Estimated Size: 330000000
- The bill is focused on incentivizing pharmaceutical manufacturing in the United States.
- Pharmaceutical workers in the U.S. are directly impacted as it encourages job growth and wage improvements.
- Consumers globally may benefit from potentially increased supply and reduced drug prices due to increased production capacity.
- The bill can potentially lead to increased drug availability or price changes, impacting all consumers of pharmaceutical products.
- The manufacturing industry's stakeholders, including investors and related sectors like logistics and raw materials, are also impacted globally.
- This could increase the global competitiveness of the U.S. pharmaceutical industry, impacting international markets.
Reasoning
- Considered the focus on the U.S. pharmaceutical industry and the expected growth in jobs and wages within that sector.
- Assumed policy effects might trickle down to consumers via changes in drug pricing and availability.
- Balanced the scope of individual experiences with potential overarching industrial impacts.
- Considered commonness based on the likelihood of individuals being directly impacted by the policy.
Simulated Interviews
Pharmaceutical Plant Worker (New Jersey)
Age: 34 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 20.0 years
Commonness: 8/20
Statement of Opinion:
- I think this policy is great for my job security and potential wage increases.
- It's good to see more manufacturing happening in the US, especially in my field.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 8 | 6 |
| Year 3 | 8 | 6 |
| Year 5 | 9 | 5 |
| Year 10 | 9 | 5 |
| Year 20 | 8 | 4 |
Computer Science Student (California)
Age: 22 | Gender: male
Wellbeing Before Policy: 7
Duration of Impact: 10.0 years
Commonness: 12/20
Statement of Opinion:
- I might consider working in the pharmaceutical industry after graduation if the policy creates more tech jobs.
- It's great that this gives more chances for internships and industry growth.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 7 |
| Year 2 | 7 | 7 |
| Year 3 | 8 | 7 |
| Year 5 | 9 | 7 |
| Year 10 | 8 | 7 |
| Year 20 | 7 | 6 |
Retired (Ohio)
Age: 57 | Gender: female
Wellbeing Before Policy: 5
Duration of Impact: 10.0 years
Commonness: 10/20
Statement of Opinion:
- I hope this means my medications will become cheaper because they might be made locally.
- It's about time we see some benefits trickle down to the customers.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 5 | 5 |
| Year 2 | 6 | 5 |
| Year 3 | 6 | 5 |
| Year 5 | 6 | 5 |
| Year 10 | 7 | 5 |
| Year 20 | 6 | 5 |
Logistics Coordinator (Texas)
Age: 45 | Gender: male
Wellbeing Before Policy: 6
Duration of Impact: 15.0 years
Commonness: 9/20
Statement of Opinion:
- This policy could mean more business and possibly expanding my operations if there’s more domestic production.
- I am excited about the future of the logistics industry as pharmaceutical manufacturing grows.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 7 | 6 |
| Year 3 | 8 | 6 |
| Year 5 | 8 | 5 |
| Year 10 | 9 | 5 |
| Year 20 | 8 | 5 |
Pharmaceutical Research Scientist (Massachusetts)
Age: 29 | Gender: other
Wellbeing Before Policy: 7
Duration of Impact: 20.0 years
Commonness: 6/20
Statement of Opinion:
- This is a big boost for my field, as it might increase funding and collaboration opportunities.
- More local manufacturing can accelerate research into useful drugs.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 7 |
| Year 2 | 8 | 6 |
| Year 3 | 9 | 6 |
| Year 5 | 9 | 6 |
| Year 10 | 9 | 6 |
| Year 20 | 8 | 5 |
Pharmaceutical Sales Representative (Kentucky)
Age: 38 | Gender: male
Wellbeing Before Policy: 6
Duration of Impact: 10.0 years
Commonness: 7/20
Statement of Opinion:
- If domestic production really ramps up, it might mean better availability of products for my clients.
- I look forward to the potential benefits of these incentives.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 7 | 6 |
| Year 3 | 8 | 6 |
| Year 5 | 8 | 6 |
| Year 10 | 8 | 6 |
| Year 20 | 7 | 5 |
Investor (New York)
Age: 50 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 10.0 years
Commonness: 5/20
Statement of Opinion:
- A strong pharmaceutical manufacturing sector in the US could mean great returns on my investments.
- I view this policy as a potential growth opportunity for sectors I'm invested in.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 6 |
| Year 2 | 6 | 6 |
| Year 3 | 7 | 6 |
| Year 5 | 7 | 6 |
| Year 10 | 7 | 6 |
| Year 20 | 7 | 6 |
High School Biology Teacher (North Carolina)
Age: 31 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 5.0 years
Commonness: 11/20
Statement of Opinion:
- A focus on local pharmaceutical industries might provide opportunities for my students and inspire new interests.
- Excited about partnerships that could arise between education and industry.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 7 |
| Year 2 | 7 | 7 |
| Year 3 | 7 | 7 |
| Year 5 | 7 | 7 |
| Year 10 | 7 | 7 |
| Year 20 | 6 | 6 |
Freelance Writer (Florida)
Age: 27 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 5.0 years
Commonness: 13/20
Statement of Opinion:
- This bill could provide a lot of content for my writing, from industry changes to consumer impacts.
- Interested in exploring how this affects consumer pricing and drug availability.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 6 |
| Year 2 | 6 | 6 |
| Year 3 | 6 | 6 |
| Year 5 | 6 | 6 |
| Year 10 | 6 | 6 |
| Year 20 | 6 | 6 |
Small Business Owner - Raw Materials Supplier (Illinois)
Age: 42 | Gender: male
Wellbeing Before Policy: 6
Duration of Impact: 15.0 years
Commonness: 7/20
Statement of Opinion:
- I believe this will bring more stability and business to suppliers like me.
- This could mean steady growth for my small company if the demand for American-made pharmaceuticals rises.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 7 | 6 |
| Year 3 | 7 | 6 |
| Year 5 | 8 | 6 |
| Year 10 | 8 | 6 |
| Year 20 | 7 | 6 |
Cost Estimates
Year 1: $5000000000 (Low: $4500000000, High: $5500000000)
Year 2: $5200000000 (Low: $4700000000, High: $5700000000)
Year 3: $5400000000 (Low: $4900000000, High: $5900000000)
Year 5: $5700000000 (Low: $5200000000, High: $6200000000)
Year 10: $6000000000 (Low: $5500000000, High: $6500000000)
Year 100: $12000000000 (Low: $11000000000, High: $13000000000)
Key Considerations
- The immediate budgetary impact of tax incentives could affect federal revenue collection.
- Over time, increased domestic production may reduce dependency on foreign pharmaceuticals, influencing trade dynamics.
- The balance of short-term cost vs. long-term gain requires careful analysis, especially under varying economic conditions.