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To amend the Internal Revenue Code of 1986 to restore the amount of the orphan drug tax credit.
Summary
This bill would amend the Internal Revenue Code to increase the orphan drug tax credit from 25 percent to 50 percent. The orphan drug tax credit allows pharmaceutical companies to claim a federal tax credit for qualified clinical testing expenses related to the development of drugs intended to treat rare diseases or conditions affecting small patient populations. By increasing the credit percentage, the bill would provide greater tax incentives for companies developing medications for orphan diseases. The change would be effective for taxable years beginning after the bill's enactment. The increased credit is intended to encourage greater investment in the development of treatments for rare diseases.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
19 cosponsors
- Rep. Bacon, Don [R-NE-2] (R-NE)
- Rep. Carey, Mike [R-OH-15] (R-OH)
- Rep. Carson, André [D-IN-7] (D-IN)
- Rep. Costa, Jim [D-CA-21] (D-CA)
- Rep. Cuellar, Henry [D-TX-28] (D-TX)
- Rep. Davis, Donald G. [D-NC-1] (D-NC)
- Rep. Fitzpatrick, Brian K. [R-PA-1] (R-PA)
- Rep. Hurd, Jeff [R-CO-3] (R-CO)
- Rep. Johnson, Henry C. "Hank" [D-GA-4] (D-GA)
- Rep. Kean, Thomas H. [R-NJ-7] (R-NJ)
- Rep. Kelly, Mike [R-PA-16] (R-PA)
- Rep. Kiggans, Jennifer A. [R-VA-2] (R-VA)
- Rep. Kim, Young [R-CA-40] (R-CA)
- Rep. Lawler, Michael [R-NY-17] (R-NY)
- Rep. Miller, Max L. [R-OH-7] (R-OH)
- Rep. Panetta, Jimmy [D-CA-19] (D-CA)
- Rep. Schneider, Bradley Scott [D-IL-10] (D-IL)
- Rep. Suozzi, Thomas R. [D-NY-3] (D-NY)
- Rep. Tenney, Claudia [R-NY-24] (R-NY)
Money behind the sponsor
Top reported contributors to Josh Gottheimer’s campaign committee (2024 cycle) — who funds the bill’s sponsor, not a claim about this bill. Data from FEC.
- BLACKSTONE $116,700
- APOLLO GLOBAL MANAGEMENT $71,500
- KKR & CO INC. $50,600
- CENTERVIEW PARTNERS $25,000
- FORTRESS INVESTMENT GROUP $23,200
Organizations whose employees gave the most — itemized individual contributions grouped by the donor’s reported employer (FEC Schedule A). Full finance for Josh Gottheimer → · Outside spending →
Actions (2)
- Feb 18, 2025 Referred to the House Committee on Ways and Means. · house
- Feb 18, 2025 Introduced in House
Similar bills (6)
Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.
Text versions (1)
Bills are re-published as they move (Introduced → Reported → Engrossed → Enrolled …). Each stage below is a separate text; pick two to see what changed. Data from Congress.gov.
Full text
IN THE HOUSE OF REPRESENTATIVES
February 18, 2025
Mr. Gottheimer (for himself, Mr. Bacon, Mr. Panetta, and Mr. Suozzi) introduced the following bill; which was referred to the Committee on Ways and Means
A BILL
To amend the Internal Revenue Code of 1986 to restore the amount of the orphan drug tax credit.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as “Cameron’s Law”.
SEC. 2. RESTORATION OF AMOUNT OF ORPHAN DRUG TAX CREDIT.
(a) In General.—Section 45C(a) of the Internal Revenue Code of 1986 is amended by striking “25 percent” and inserting “50 percent”.
(b) Effective Date.—The amendment made by this section shall apply to taxable years beginning after the date of the enactment of this Act. <all>
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