Biotech And Life Sciences Grant Program: Only A Few Crumbs To Go Around?
After assuming control of the House in the mid-term elections, Republicans vowed to eviscerate the Affordable Care Act, the health reform law signed by the “Big O” last March. Thank heavens, therefore, that the Boehners were too busy congratulating themselves to even notice those federal helicopters dumping $1 billion in cash on some needy biotech companies just as the election results were being tallied.
Yep, it happened. Federal disbursements in the form of grants and tax credits were made last week, as required by a provision in the reform law known as the Qualifying Therapeutic Discovery Project Program. According to the terms of this program, biotech and life sciences companies with less than 250 employees could apply for federal funds to cover research costs they had incurred in the last two years, so long as the research focused on the prevention, diagnosis, and treatment of chronic diseases. Read more »
*This blog post was originally published at Pizaazz*
We learn from the healthcare reform bill that the federal government will help subsidize Medicaid funding for all the new patients who qualify, but they will only do it for two years. After that, the states are on their own. Medicaid unfunded liabilities will crush state governments everywhere.
