A KidneyBuzz.com viewer wrote, "I am concerned about the new Tax Plan. It seems like it is cutting a lot of areas. Could it impact the development of the implantable kidney device?"
BREAKING: The House and Senate Leaders have announced that they reached a tax deal. Although it still has to be agreed upon by the majority of Congress, this moves the Tax Plan closer to being enacted. If it includes key provisions outlined in the previously released Senate Tax Plan, then it very well could impact the progress and even development of the Artificial Implantable Kidney.
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KidneyBuzz.com has been petitioning Congress to reevaluate the proposed Tax Plan since it could greatly impact Chronic Kidney Disease and Dialysis patients' quality of care. Now we learn that the Tax Proposal also cuts obscure provisions to incentivize research for underfunded diseases such as Chronic Kidney Disease and Dialysis as well as it could "Blow A Hole" in scientific research by impacting Graduate Student Researchers' tuition and compensation, noted news outlets familiar with the proposed plan.
To be more specific, the final tax bill is expected to end up killing or drastically cutting a three-decade-old tax credit for organizations that are developing therapies for otherwise overlooked diseases or disorders. The Senate version of the $1.5-trillion tax-cut plan would slice by about half the current 50% tax credit for such research development. The House measure would do away with it entirely, generating an estimated $54 billion in federal revenue over 10 years to help pay for other tax reductions, mostly to corporations.
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This is not a place to cut since the Artificial Implantable Kidney Researchers may rely on the funding to continue research of the lifesaving device. Dr. Aaron S. Kesselheim, an associate professor of medicine at Harvard Medical School and also an expert on health law said, “I think we need to look more rigorously at the impact of the tax credit before determining if it needs adjusting.”
What's more, research such as that being conducted at the Unversity of California San Francisco and Vanderbilt University to develop the Artificial Implantable Kidney, heavily relies on Graduate Students. According to Vox.com, "They do mostly invisible work in thousands of labs and research institutions across the United States, on everything from basic research about human cells to clinical research on how to cure cancer." Hence, their contributions are essential to running studies like the upcoming Human Trials for the implantable kidney device.
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In exchange for that labor during their training, the Federal Government gives them a break on their taxes. Very simply, Grad Students get their tuition and other school fees waived while they’re teaching or researching. When tax season rolls around, they’re exempted from having to pay taxes on that money (which never hits their pockets).
However, under the House version of the tax bill, these waivers would become taxable income. Thus, if this change becomes law, it will seriously damage the model that keeps America’s scientific labs running, suggested Jeremy Berg (Editor-In-Chief of the Science Journal).
There is still time! After, successfully fighting for the development of the Artificial Implantable Kidney for years we cannot allow a Tax Plan to derail the considerable progress achieved. Sign and widely share the below petition to tell Congress to protect Chronic Kidney Disease and Dialysis patients by avoiding cuts to research funding:
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