ABCI Fact Sheet
Securing America's Biotech Future: Congress Must Extend Pro-Growth Tax Policy
The U.S. biopharmaceutical industry has seen remarkable growth since the 2017 Tax Cuts and Jobs Act (TCJA) took effect. More than $160 billion has been invested in domestic facilities, over 4 million jobs are now supported, and corporate inversions—once a major threat to U.S. competitiveness—have dropped to zero.
The Alliance for Biopharmaceutical Competitiveness and Innovation, a coalition of leading U.S. biopharma and medtech companies, is working to ensure the U.S. adopts smart policies that allow these trends to continue. Advocating for tax policies that maintain America’s leadership in life sciences and encourage continued investment in research, manufacturing, and high-skill jobs, ABCI is looking to protect American global dominance.
Innovative medical progress depends on stable, forward-looking policy. U.S. companies need the right environment to keep investing at home.
Congress recently took a major step in sustaining American leadership in biotechnology by extending the TCJA. With the rise of China as our global competitor, it's crucial America maintain its leadership in this industry, and others. We intend to advocate for the policy that makes that happen.