Bill Overview
Title: American Made Medicine Act
Description: This bill allows employers tax credits for domestic medical and drug manufacturing expenses and for advanced medical manufacturing equipment. It also provides a tax credit for a percentage of the basis of qualifying medical manufacturing EPA compliance property placed in service before January 1, 2029, or during calendar year 2030. The bill defines qualifying medical manufacturing EPA compliance property as depreciable property used by a taxpayer in the trade or business of manufacturing a drug, device, biological product, or active pharmaceutical ingredient or covered countermeasure (e.g., a qualified pandemic or epidemic product, security countermeasure, or respiratory protective device). The property must meet emissions limits under the Clean Air Act or wastewater standards under the Clean Water Act.
Sponsors: Rep. Wenstrup, Brad R. [R-OH-2]
Target Audience
Population: People benefiting from stable, domestic medical manufacturing
Estimated Size: 300000000
- This bill focuses on domestic manufacturing in the medical and drug sectors, so it primarily impacts workers and industries involved in these sectors.
- The bill provides financial incentives for companies to invest in advanced medical manufacturing and environmentally compliant equipment, potentially increasing employment opportunities within these industries.
- By promoting domestic manufacturing, it can lead to a more stable supply chain for essential medical products, impacting patients and healthcare providers.
- Enhanced production capacity and environmental compliance can lead to better public health outcomes.
- Consumers could benefit from more reliable access to medical products manufactured domestically.
Reasoning
- This bill is likely to primarily affect those working in medical manufacturing, including workers, management, and related industries. Therefore, a portion of the simulated interviews will focus on this demographic.
- Given that the policy aims to improve environmental standards in production, I will also consider the indirect benefits to public health and related wellbeing improvements.
- Expectations are that people with direct ties to the industry might see economic benefits and possibly an increase in job satisfaction and stability.
- For those not directly involved in the industry, impacts might be less pronounced and possibly more related to indirect public health improvements.
Simulated Interviews
Factory Worker (Detroit, MI)
Age: 45 | Gender: male
Wellbeing Before Policy: 4
Duration of Impact: 10.0 years
Commonness: 15/20
Statement of Opinion:
- I hope this policy secures my job and brings more work into our plant.
- With better equipment, our jobs might be less tough, and the air around might be cleaner.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 5 | 4 |
| Year 2 | 6 | 4 |
| Year 3 | 6 | 3 |
| Year 5 | 7 | 2 |
| Year 10 | 8 | 2 |
| Year 20 | 7 | 1 |
Biotech Researcher (Research Triangle, NC)
Age: 34 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 5.0 years
Commonness: 10/20
Statement of Opinion:
- This act could boost our funding as domestic manufacturing is incentivized.
- I'm hopeful it leads to greener production processes.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 8 | 5 |
| Year 3 | 8 | 5 |
| Year 5 | 8 | 4 |
| Year 10 | 7 | 3 |
| Year 20 | 6 | 2 |
Healthcare Policy Analyst (San Francisco, CA)
Age: 28 | Gender: other
Wellbeing Before Policy: 7
Duration of Impact: 10.0 years
Commonness: 12/20
Statement of Opinion:
- Domestic manufacturing could stabilize drug prices and influence supply chains.
- Long term, I expect these changes to increase the resilience of our healthcare system.
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 | 8 | 6 |
| Year 10 | 8 | 6 |
| Year 20 | 7 | 5 |
Pharmaceutical Sales Manager (Houston, TX)
Age: 56 | Gender: male
Wellbeing Before Policy: 5
Duration of Impact: 5.0 years
Commonness: 8/20
Statement of Opinion:
- This policy might bolster sales for domestic products and create more opportunities for us.
- I hope it helps stabilize our market presence against imports.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 5 |
| Year 2 | 6 | 5 |
| Year 3 | 7 | 4 |
| Year 5 | 8 | 3 |
| Year 10 | 6 | 2 |
| Year 20 | 5 | 1 |
Environmental Engineer (Chicago, IL)
Age: 39 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 10.0 years
Commonness: 7/20
Statement of Opinion:
- Encouraging compliance is positive, but it depends on how strictly it's enforced.
- I'm interested in seeing measurable improvements in air quality.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 7 | 6 |
| Year 3 | 7 | 5 |
| Year 5 | 8 | 4 |
| Year 10 | 8 | 3 |
| Year 20 | 7 | 2 |
Nurse Practitioner (Boston, MA)
Age: 41 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 5.0 years
Commonness: 10/20
Statement of Opinion:
- If this policy stabilizes drug availability, it could ease some of our patients' access issues.
- I'm cautiously optimistic about its long-term benefits.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 6 |
| Year 2 | 6 | 6 |
| Year 3 | 7 | 5 |
| Year 5 | 7 | 5 |
| Year 10 | 6 | 4 |
| Year 20 | 5 | 3 |
Small Business Owner (Birmingham, AL)
Age: 50 | Gender: other
Wellbeing Before Policy: 4
Duration of Impact: 5.0 years
Commonness: 5/20
Statement of Opinion:
- With more domestic manufacturing, I hope there will be more demand for our parts.
- This policy might help revive some aspects of my business.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 5 | 4 |
| Year 2 | 6 | 4 |
| Year 3 | 6 | 3 |
| Year 5 | 6 | 3 |
| Year 10 | 5 | 2 |
| Year 20 | 4 | 2 |
Pharmacy Technician (Los Angeles, CA)
Age: 24 | Gender: male
Wellbeing Before Policy: 5
Duration of Impact: 10.0 years
Commonness: 13/20
Statement of Opinion:
- Domestic production could ease supply chain issues we've experienced.
- I'm hopeful but worried about how long it will take to see real impact.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 5 | 5 |
| Year 2 | 5 | 4 |
| Year 3 | 6 | 4 |
| Year 5 | 6 | 3 |
| Year 10 | 7 | 2 |
| Year 20 | 6 | 1 |
Retired Teacher (Rural Vermont)
Age: 60 | Gender: female
Wellbeing Before Policy: 4
Duration of Impact: 10.0 years
Commonness: 10/20
Statement of Opinion:
- If this helps keep my medications affordable and available, that'll be a real benefit.
- I'm concerned about the reliability of the supply chain.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 4 | 4 |
| Year 2 | 5 | 4 |
| Year 3 | 5 | 4 |
| Year 5 | 6 | 3 |
| Year 10 | 6 | 2 |
| Year 20 | 5 | 2 |
Medical Equipment Sales (New York, NY)
Age: 38 | Gender: male
Wellbeing Before Policy: 6
Duration of Impact: 5.0 years
Commonness: 9/20
Statement of Opinion:
- The tax credits could encourage more of my clients to upgrade their equipment.
- I hope this creates sustained demand for advanced manufacturing solutions.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 7 | 6 |
| Year 3 | 8 | 5 |
| Year 5 | 8 | 4 |
| Year 10 | 7 | 3 |
| Year 20 | 6 | 3 |
Cost Estimates
Year 1: $1500000000 (Low: $1000000000, High: $2000000000)
Year 2: $1550000000 (Low: $1050000000, High: $2050000000)
Year 3: $1600000000 (Low: $1100000000, High: $2100000000)
Year 5: $1700000000 (Low: $1200000000, High: $2200000000)
Year 10: $1800000000 (Low: $1300000000, High: $2300000000)
Year 100: $2300000000 (Low: $1800000000, High: $2800000000)
Key Considerations
- Estimating uptake rate of tax credits by companies is challenging and heavily influences cost estimates.
- Potential shifts in global medical manufacturing competitiveness need to be monitored.
- Economic benefits depend on sustained investment and compliance by domestic producers.