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Nanomedicine Summit 2008

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Science 2 March 2001:
Vol. 291. no. 5509, p. 1679
DOI: 10.1126/science.291.5509.1679c
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ScienceScope

Although some scientists complain that biomedical research is getting more than enough funding (see p. 1677), some lawmakers want the U.S. government to offer a new tax break to encourage greater giving to medical studies. The legislators introduced a bill this week that would give a deduction to science backers who donate stock options to universities and other nonprofits engaged in medical research.

"With stock options playing a larger role in employee compensation packages in the new economy, people should have the option of giving ... without having a portion siphoned off for Uncle Sam," says Representative Jennifer Dunn (D-WA), who is sponsoring the legislation with Representative Ben Cardin (D-MD) and Senators Bill Frist (R-TN) and Robert Torricelli (D-NJ). Dunn claims the change could bring $1 billion to medical charities over 5 years.

But a similar bill that Dunn introduced last year won only lukewarm support from many philanthropic and scientific groups. The problem, they say, is that singling biomedical science out for a tax benefit might lead to complaints from other disciplines. Says one lobbyist: "Why shouldn't ecology get the same treatment?"

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Science. ISSN 0036-8075 (print), 1095-9203 (online)