SMITH, BUCHANAN INTRODUCE LEGISLATION TO PROTECT AMERICAN INNOVATION

Press Release

Today, Ways and Means Trade Subcommittee Republican Leader Adrian Smith (R-NE) and Health Subcommittee Republican Leader Vern Buchanan (R-FL) led committee Republicans in introducing the Protecting American Innovation Act, legislation to prevent President Biden from dismantling American innovation and handing over U.S. intellectual property to adversaries like China and Russia through negotiations about a potential waiver of certain obligations under the World Trade Organization's Trade-Related Aspects of Intellectual Property Rights (TRIPS) Agreement.

The members released the following statements on the legislation:

"The United States can and should help increase global access to COVID-19 vaccines, but we also have a duty to protect the hard work, investment, and intellectual property of American innovators," said Smith. "Unfortunately, President Biden has failed to defend American interests as negotiators look for ways to vaccinate the world, and I have serious concerns about the precedent that could be set by simply handing over the keys to America's innovation engine. Rather than taking political shortcuts and throwing IP protections out the window, let's focus on lowering the true barriers to access -- technical expertise, shortage of raw materials, and supply chain infrastructure -- to get these vaccines to every corner of the world."

"Intellectual property rights encourage innovation and help boost the economy," said Buchanan. "The Biden administration's misguided proposal to waive intellectual property protections would discourage innovation and make it more difficult to achieve the next life-saving medical breakthrough. It would also serve as a massive giveaway to countries like China, Russia and India who have been trying to steal American innovators' intellectual property for years."

The Protecting American Innovation Act would affirm Congress's authority over international trade by requiring the United States Trade Representative (USTR) to notify and consult with Congress when negotiating any suspension or modification of U.S. trade agreements, including any COVID-related TRIPS waivers. The bill would also require the Executive Branch to develop an interagency public health report to determine how a potential TRIPS waiver would increase global vaccine access and availability and make any TRIPS waiver -- as well as other potential modifications to trade agreements -- subject to congressional approval.

Additionally, the bill:

Increases public transparency by requiring USTR to provide notice in the Federal Register of its goals in the negotiations and allow for public comment;
Requires a formal investigation to determine the effects of a COVID TRIPS waiver on the national security of the US; and
Reasserts Congressional authority over trade matters by allowing Senate Finance Committee and Ways and Means Committee leaders to designate members and staff as official advisors to negotiations.
Original cosponsors of the bill include Reps. Drew Ferguson (R-GA), Jackie Walorski (R-IN), Darin LaHood (R-IL), Brad Wenstrup (R-OH), Greg Murphy (R-NC), Ron Estes (R-KS), Carol Miller (R-WV), Lloyd Smucker (R-PA), and Kevin Hern (R-OK). A similar version of the legislation was introduced as an amendment by Senator Mike Crapo (R-ID).

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