Rubio, González-Colón Introduce Legislation to Reignite Puerto Rico's Pharmaceutical Industry

Press Release

U.S. Senator Marco Rubio (R-FL) introduced the Medical Manufacturing, Economic Development, and Sustainability (MMEDS) Act of 2020 (S.4467), which encourages companies currently producing medical and pharmaceutical equipment abroad to relocate to the U.S. The bill would also enact a tax credit of federal income tax liability for wages and eligible pharmaceutical manufacturing facilities in economically distressed zones, including Puerto Rico.

In March, Rubio introduced bipartisan legislation to combat America's supply chain risk and dependence on China for pharmaceuticals that builds off the plan he released in February. More than a year ago, Rubio issued a report detailing critical vulnerabilities in America's medical supply chain, warning, "the U.S. runs the risk of losing important components of its medical supply chain to China's government-backed industry." Last year, Rubio warned in Modern Healthcare that when it comes to the threat China poses to the U.S. healthcare industry, we cannot afford to be complacent.

Representative Jenniffer González-Colón (R-PR) introduced companion legislation in the House of Representatives.

"The coronavirus pandemic has made it clear that we must rebuild our national manufacturing capacity, especially in our medical industry," Rubio said. "For too long, our manufacturing capabilities have moved to China, impacting communities across our country, including Puerto Rico, which was once home to a strong manufacturing industry in the United States. I am proud to join Congresswoman González-Colón in this vital effort to rebuild our manufacturing capacity, especially in the economically marginalized areas that were most affected by the COVID-19 pandemic."

"Puerto Rico has the capacity, labor, experience, and infrastructure to become a national hub for the production of medical equipment and medicines, attracting manufacturers and pharmaceutical companies located abroad," González Colón said. "Thus, we secure the national supply chain and boost our economy with well-paying jobs. This is my bill that I am promoting along with Senator Marco Rubio and the reason why I have brought Rear Admiral Peter Brown and a delegation from the White House to visit various pharmaceutical plants in the Island."

Source