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Bipartisan Bill Seeks to Make US Pharmaceutical Supply Chain Less Dependent on Foreign Countries Like China

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Bipartisan Bill Seeks to Make US Pharmaceutical Supply Chain Less Dependent on Foreign Countries Like China

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A bipartisan group of lawmakers on Wednesday reintroduced a bill that would make the U.S. pharmaceutical supply chain less dependent on foreign countries like China. The legislation will help mitigate drug shortages while incentivizing the domestic production of drugs, active pharmaceutical ingredients (API), personal protective equipment (PPE), and diagnostics, according to Rep. Earl L. “Buddy” Carter (R-Ga.), one of the co-sponsors of the bill. “The COVID-19 pandemic made it very clear that America cannot continue to rely on foreign entities like China for lifesaving medications,” Carter said in a statement. The bill seeks to establish a new tax credit that would apply only to manufacturers operating in designated American Opportunity Zones, encouraging companies to maintain, expand, or relocate their production activities back to the United States. “This legislation illustrates the transformative power of Opportunity Zones, which have not only spurred billions of dollars of investment into our nation’s poorest communities but will also be …

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