Within the bill is a provision for thousands of Americans to receive a tax credit as they did for parents with children and students attending school. After the government takes over originating student loans as opposed to banks and private lenders, at least over 60 billion will be saved and put into increasing Pell Grants for needy students. See further information with the following link, detailing the termination of specific loans and funding allocated to African American historical institutions and Hispanic serving Institutions. H.R. 4872
Children up until age 26 will be able to stay on their parent’s health plan. A wellness program will provide thousands of low income families with immunization and preventative health care for infants, young children and teens at no cost sharing. This should be in affect September 2010.
There is a beneficial tax credit for small to midsized pharmaceutical and medical device companies. They will inherit a 50% tax credit for investing in research toward therapeutic discoveries or a grant in the same amount, which will be tax free. This is a good incentive for small companies including new biotech companies which have been the pioneers of many breakthrough technologies. The project is entitled, the “Therapeutic Discovery Project”. The qualifying criteria again are an employee roster equal to or less than 250. The therapy will consist of pre-clinical studies and or research which will possibly lead to the treatment or prevention of diseases and conditions. Unlike other tax credits this tax credit does have limitations, of 1 billion dollar limit to be precise. US Treasury Fact Sheet on Therapeutic Discovery Tax Credit .
