Findings of USA 112TH Congress for Regenerative Medicine Act of 2011 (HR 1862)

To launch a national strategy to support regenerative medicine through increased funding for research and commercial development of regenerative medicine products and development of a regulatory environment thatenables rapid approval of safe and effective products, and for other purposes.

Congress finds the following:

(1) Regenerative medicine has the potential to treat many chronic diseases, promote economic growth, and reduce health care spending in the United States.

(2) Regenerative medicine products have allready successfully treated numerous health conditions, and have the potential to provide cures, treatments, and diagnostics for a range of diseases and disabilities including diabetes, spinal cord injury,heart disease, stroke, and various forms of cancer.

(3) A United States national strategy on regenerative medicine is critical to ensure that this technology fulfills its potential to cure and treat diseases and disabilities, reduce overall health spending, and promote economic growth.

(4) The Department of Defense has stated thatregenerative medicine has the potential to treat many battlefield injuries such as burns, that it has the potential to heal wounds without scarring, and that it has the potential to be used for traumatic brain injury and other forms of trauma, craniofacial reconstruction, limb reconstruction, regeneration, and transplantation.

(5) The Department of Health and Human Services and the Multi-Agency Tissue Engineering Science Interagency Working Group have endorsed a national initiative to support research and product development in regenerative medicine.

(6) The Department of Health and Human Services has said the potential benefits of regenerative medicine in improved health care and economic savings are enormous. States that have invested in regenerative medicine have experienced economic growth and see future growth potential, including an increase in biotech employment, payroll increases,

Source - further reading: http://www.alliancerm.org/rm_act_2011.pdfand proportional impacts on tax receipts