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The Reinvigorating Antibiotics and Diagnostic Innovation (READI) Act (H.R. 1840) is a bipartisan bill introduced in the U.S. House of Representatives by Congressman Erik Paulsen (R-MN) and Congressman Mike Thompson (D-CA). The bill would give a tax credit to organizations that create new antibiotics and "rapid diagnostic tests" that treat serious or life-threatening infections.
According to Politico, "To encourage research and development, the bill would provide a new 50 percent tax credit for the clinical testing expenses of new antibiotics that treat serious or life-threatening infections and rapid infectious disease diagnostic tests."
According to the Infectious Diseases Society of America, the legislation's tax credit is modeled after the credit offered under the Orphan Drug Act for treatments of rare diseases.
Paulsen is co-chair of the Congressional Medical Technology Caucus.
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According to Politico, "To encourage research and development, the bill would provide a new 50 percent tax credit for the clinical testing expenses of new antibiotics that treat serious or life-threatening infections and rapid infectious disease diagnostic tests."
According to the Infectious Diseases Society of America, the legislation's tax credit is modeled after the credit offered under the Orphan Drug Act for treatments of rare diseases.
Paulsen is co-chair of the Congressional Medical Technology Caucus.
View More On Wikipedia.org