Bill Overview
Title: Mental Health Research Accelerator Act of 2022
Description: This bill allows a tax credit through 2031 for 25% of expenses for translational research regarding neurodegenerative diseases and psychiatric conditions. The credit amount is subject to limitations, including an aggregate national limitation of $1 billion in 2022, $2 billion in 2023-2027, and $1 billion in 2028.
Sponsors: Rep. Thompson, Mike [D-CA-5]
Target Audience
Population: People suffering from neurodegenerative diseases and psychiatric conditions
Estimated Size: 60000000
- The bill provides a tax credit for research on neurodegenerative diseases and psychiatric conditions, indicating focus on these two groups.
- Neurodegenerative diseases and psychiatric conditions affect a significant portion of the global population.
- Translational research helps in converting laboratory findings into medical applications and treatments, which can benefit patients suffering from these conditions.
- The incentives might encourage more companies and research institutions globally to invest in this area, potentially impacting a large number of patients worldwide who suffer from these conditions.
Reasoning
- Considerations for this simulation include balancing the national reach of the policy against its budgetary limits, which means only select research initiatives might receive direct funding, with potential indirect impacts on many individuals.
- The target population consists primarily of individuals with neurodegenerative diseases and psychiatric conditions, which do not exclusively determine socio-economic backgrounds or geographical locations.
- While the policy focuses on long-term research outcomes, individuals may perceive benefits in a variety of ways including expected future medical advancements, increased public attention, and possible economic impacts such as job creation in research fields.
- A range of perspectives is represented, from those directly benefiting in the short term through developments funded by this act, to those less impacted immediately but potentially benefiting in the long term.
Simulated Interviews
retired teacher (Florida)
Age: 65 | Gender: female
Wellbeing Before Policy: 4
Duration of Impact: 10.0 years
Commonness: 5/20
Statement of Opinion:
- I hope this research bill can help find better treatments.
- Maybe it'll bring new therapies faster, I am hopeful.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 5 | 4 |
| Year 2 | 6 | 4 |
| Year 3 | 6 | 4 |
| Year 5 | 7 | 5 |
| Year 10 | 8 | 5 |
| Year 20 | 8 | 5 |
software engineer (California)
Age: 34 | Gender: male
Wellbeing Before Policy: 5
Duration of Impact: 5.0 years
Commonness: 10/20
Statement of Opinion:
- Any advancement in treatment is great.
- I hope this encourages more innovation and perhaps apps for mental health.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 5 | 5 |
| Year 2 | 5 | 5 |
| Year 3 | 6 | 5 |
| Year 5 | 6 | 5 |
| Year 10 | 7 | 5 |
| Year 20 | 7 | 5 |
research scientist (New York)
Age: 50 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 20.0 years
Commonness: 5/20
Statement of Opinion:
- The Act should expand our research capabilities.
- This might bring in more funding to the lab.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 7 |
| Year 2 | 8 | 7 |
| Year 3 | 8 | 7 |
| Year 5 | 9 | 7 |
| Year 10 | 9 | 7 |
| Year 20 | 9 | 7 |
barista (Colorado)
Age: 28 | Gender: other
Wellbeing Before Policy: 6
Duration of Impact: 15.0 years
Commonness: 6/20
Statement of Opinion:
- If this leads to better therapies, I'm all for it.
- I hope it doesn't just help the few who can afford it.
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 | 8 | 6 |
| Year 20 | 8 | 6 |
accountant (Texas)
Age: 45 | Gender: male
Wellbeing Before Policy: 5
Duration of Impact: 10.0 years
Commonness: 7/20
Statement of Opinion:
- I hope this policy includes research into conditions like autism in its term.
- Long term, more research can make a difference for my family.
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 | 7 | 5 |
| Year 10 | 7 | 5 |
| Year 20 | 7 | 5 |
graduate student (Washington)
Age: 29 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 15.0 years
Commonness: 4/20
Statement of Opinion:
- Increased funding might increase opportunities for researchers like me.
- I am optimistic about potential advancements in psychiatry as a field.
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 | 9 | 6 |
| Year 20 | 9 | 6 |
factory worker (North Carolina)
Age: 56 | Gender: male
Wellbeing Before Policy: 4
Duration of Impact: 12.0 years
Commonness: 6/20
Statement of Opinion:
- Any step towards better treatments is valuable.
- I hope this leads to affordable options for people like me.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 5 | 4 |
| Year 2 | 6 | 4 |
| Year 3 | 6 | 4 |
| Year 5 | 7 | 5 |
| Year 10 | 7 | 5 |
| Year 20 | 8 | 5 |
nurse (Vermont)
Age: 39 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 10.0 years
Commonness: 8/20
Statement of Opinion:
- If this means more resources for us, that's wonderful.
- It's frustrating seeing patients wait for better treatments.
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 | 8 | 6 |
retired engineer (Ohio)
Age: 62 | Gender: male
Wellbeing Before Policy: 3
Duration of Impact: 15.0 years
Commonness: 7/20
Statement of Opinion:
- This act could make a big difference for future patients and their families.
- Hopeful it will speed up discoveries in dementia care.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 4 | 3 |
| Year 2 | 5 | 3 |
| Year 3 | 5 | 3 |
| Year 5 | 6 | 4 |
| Year 10 | 6 | 4 |
| Year 20 | 7 | 4 |
high school teacher (Illinois)
Age: 41 | Gender: male
Wellbeing Before Policy: 5
Duration of Impact: 5.0 years
Commonness: 9/20
Statement of Opinion:
- If this results in improvements in treatments and understanding, it could help a lot of people.
- Mental health research is crucial, especially for the younger generation.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 5 | 5 |
| Year 2 | 5 | 5 |
| Year 3 | 6 | 5 |
| Year 5 | 6 | 5 |
| Year 10 | 6 | 5 |
| Year 20 | 6 | 5 |
Cost Estimates
Year 1: $1000000000 (Low: $800000000, High: $1100000000)
Year 2: $2000000000 (Low: $1600000000, High: $2200000000)
Year 3: $2000000000 (Low: $1600000000, High: $2200000000)
Year 5: $2000000000 (Low: $1600000000, High: $2200000000)
Year 10: $1000000000 (Low: $800000000, High: $1100000000)
Year 100: $1000000000 (Low: $800000000, High: $1100000000)
Key Considerations
- The success of incentivizing research will depend on private sector participation.
- The cap on credits ensures a limitation on fiscal exposure from forgone tax revenues.
- Potential for significant advancement in treatments which could reduce broader healthcare costs.