Georgia Life Sciences Statement on U.S. Tariff Announcement

In a coordinated effort on the national stage, Georgia Life Sciences is joining forces with 47 other state biotechnology associations under the Council of State Biosciences Associations (CSBA) umbrella to urge congressional action on research and development tax amortization legislation. The coalition has sent a formal letter to congressional leadership calling for the immediate passage of the American Innovation and R&D Competitiveness Act (H.R. 1990), bipartisan legislation sponsored by Representatives Ron Estes (D-KS) and John Larson (R-CT). The bill aims to repeal harmful research and amortization provisions that went into effect in 2022 under the Tax Cuts and Jobs Act. Georgia Life Sciences representatives are heading to Washington DC this week alongside fellow CSBA members to meet directly with Georgia legislators. The group will advocate for this critical tax reform, which would restore immediate expensing of R&D expenditures rather than requiring companies to amortize these deductions over five years for domestic expenditures or 15 years for foreign expenditures. The current mandatory amortization requirements are "already diverting much-needed funds away from small R&D-intensive companies, potentially jeopardizing the development of future treatments and negatively impacting the local economies where these companies are established," according to the CSBA letter. During their Capitol Hill visits, the Georgia Life Sciences delegation will also address other pressing issues facing Georgia’s life sciences community while emphasizing the importance of supporting innovation in an industry dominated by pre-revenue companies developing critical medical breakthroughs.

The Food and Drug Administration's top vaccine official, Dr. Peter Marks, has resigned under pressure, directly criticizing Health Secretary Robert F. Kennedy Jr.'s approach to vaccine policy in his departure. In his resignation letter to Acting FDA Commissioner Sara Brenner, Marks wrote: "It has become clear that truth and transparency are not desired by the secretary, but rather he wishes subservient confirmation of his misinformation and lies." Marks was reportedly given the option to resign or be fired during a meeting at the Department of Health and Human Services on Friday. In a subsequent interview, Marks reinforced his concerns, stating: "This man doesn't care about the truth. He cares about what is making him followers." John F. Crowley, president and CEO of the Biotechnology Innovation Organization (BIO) , praised Marks' tenure in a statement following the announcement: "Under the extraordinary leadership of Dr. Peter Marks, the FDA shepherded in a new era of scientific breakthroughs -- from new vaccines to curative cell and gene therapies that have strengthened and saved the lives of millions of patients and families." Crowley expressed concern about potential ramifications for healthcare innovation, noting: "We are deeply concerned that the loss of experienced leadership at the FDA will erode scientific standards and broadly impact the development of new, transformative therapies to fight diseases for the American people." BIO emphasized its commitment to working with the new Commissioner and administration while stressing the importance of upholding scientific expertise and high standards at health institutions.