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Montana’s Sen. Baucus champions $1b in biomedical tax credits

May 22, 2010 /

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Bear Paw Development Corporation is a private non-profit organization created for the purpose of administering programs to help improve regional economic conditions in Hill, Blaine, Liberty, Chouteau and Phillips Counties and the Fort Belknap and Rocky Boy's Indian Reservations.

The Obama administration said Friday it’s offering $1 billion in seed money to small research firms in the hunt for promising medical breakthroughs.

Companies working on projects that have "significant potential" to produce new drugs, find a cure for cancer, or address unmet medical needs can apply for up to a $5-million share of the funds. It’s limited to firms with 250 workers or fewer, and applications will have to pass review by experts at the National Institutes for Health.

The idea http://www.treasury.gov/press/releases/tg712.htm was championed by three Democratic senators – Max Baucus of Montana http://baucus.senate.gov/ , John Kerry of Massachusetts, and Robert Menendez of New Jersey – and incorporated in President Barack Obama’s health care overhaul law.

Full Story: http://seattletimes.nwsource.com/html/health/2011920734_apusmedbiomedicaltaxcredit.html

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