The National Biomedical Research Act would create a new Biomedical Innovation Fund that receives $10 billion annually from the Treasury from 2025 through 2034, totaling $100 billion over the decade. The money would be distributed between the National Institutes of Health and the Food and Drug Administration based on their respective budget sizes, with amounts released gradually over five fiscal years to support basic disease research, innovative treatments for diseases with unmet medical needs, research on high-cost diseases affecting Medicare and Medicaid, early career scientists, and diverse research institutions. The bill requires both agencies to receive funding increases above their previous baseline levels before money can be distributed in any given year, and mandates annual reports from the Treasury and participating agencies on how the funds are used. If amounts remain undistributed for three consecutive years, the remaining balance would be transferred to reduce the federal deficit.
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