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Category Archives: Advocacy

Congress Passes Tax Reform Legislation, Protecting Critical Orphan, R&D Tax Credits

On Dec. 20, Congress passed a sweeping overhaul of the tax code in the form of H.R. 1, the Tax Cuts and Jobs Act. While CLSA did not take a position on the overall legislation, we did work in close collaboration and coordination with BIO and our CLSA member companies to ensure that the Orphan Drug Tax Credit – a meaningful incentive for investment in rare disease therapy innovation – was preserved in the final bill passed by Congress.

Federal Update: Tax Reform & Impact on the Life Sciences Sector

Congress is currently advancing legislation in both chambers to significantly overhaul the U.S. tax code. Historically, CLSA has focused our tax-related advocacy efforts around: (1) calling for an update and making permanent of the R&D Tax Credit, (2) protecting the Orphan Drug Tax Credit (ODTC), and (3) opposing the creation of and later calling for a repeal of the medical device tax.