Bill > S1203

This bill, the Medical Manufacturing, Economic Development, and Sustainability Act of 2021 (MMEDS Act of 2021), aims to incentivize domestic medical product manufacturing in economically distressed areas of the United States. It establishes a tax credit for manufacturers with facilities located in designated "economically distressed zones," covering a percentage of wages, fringe benefits, and depreciation/amortization expenses. The bill also provides a tax credit for domestic medical product manufacturers who acquire products and services from suppliers in these economically distressed zones. Additionally, the bill includes special rules to encourage the repatriation of pharmaceutical manufacturing facilities and the development of therapies to address the disproportionate impact of pandemics on vulnerable populations.