AAMC Medical Innovation Tax Credit Letter, Requesting
Support and Cosponsorship
June 18, 1999
The Honorable Bill Archer
Chairman
Committee on Ways and Means
United States House of Representatives
1236 Longworth House Office
Building
Washington, D.C. 20515
Dear Mr. Chairman:
On behalf of the nation's medical schools and teaching hospitals, I
write to ask for your support and cosponsorship of "The Medical Innovation
Tax Credit (MITC) of 1999, " H.R. 1039, introduced by Reps. Sam Johnson
(R-Tex.) and Sander Levin (D-Mich.).
This legislation is important to medical schools and teaching hospitals
as well as the overall advancement of medical research in the United
States for the following reasons:
- The bill ensures America's pre-eminence in innovative medical
research by providing an incentive to bolster the academic-industry
partnership and encourage additional clinical trials in the United
States.
- The bill provides needed resources for medical schools and teaching
hospitals.
As you know, clinical trials research is essential to developing new
and better treatments for diseases. The MITC tax credit, building on the
current Research and Experimentation Tax Credit, encourages private
companies to invest in clinical trials specifically at United States
medical schools and teaching hospitals.
Medical schools and teaching hospitals- which train our nation's health
care physicians, sustain the environment essential for research advances,
maintain key standby and special services and provide care for the
uninsured-are facing real financial challenges. These unique services
provided by medical schools and teaching hospitals are at risk of being
compromised as a result of the fundamental changes taking place in the
health care marketplace. The MITC, which encourages new partnerships
between private companies and medical schools and teaching hospitals,
would provide an incentive to increase clinical research trials at these
special institutions.
Reinforcing America's pre-eminence in medical research through
maintained investments in America's academic research infrastructure, the
MITC is a win-win for all parties involved-patients, private sector drug,
biologics and device companies and medical schools and teaching hospitals.
The AAMC appreciates your consideration of this legislation and looks
forward to working with you.
Sincerely,
Jordan J. Cohen, M.D.
President | 
