Ways and Means Committee Chairman Jason Smith (MO-08) delivered the following opening statement at a field hearing in Salt Lake City, Utah on unleashing medical innovation and economic prosperity.

As prepared for delivery.

“Good morning. I want to thank everyone for joining us and especially thank our hosts, ARUP Labs, for welcoming us to your impressive facility. It’s incredible to be able to watch the future of medicine happening right before us during this hearing.

“I also want to thank Congressman Moore, for hosting us here today. We had a great tour this morning of a private charity that helps meet basic needs and uses the power of meaningful work to help lift families out of poverty, and I’m looking forward to another great event here. Everyone here should know that, back in D.C., Blake is not shy about sharing how Utah could be a model for the rest of America. 

“The Ways and Means Committee is in Salt Lake City to listen and learn directly from Americans making the next generation of medicines and the patients who are benefiting from those breakthroughs to see what Congress can do to encourage medical innovation in America.

“American innovators are the world’s best. Our researchers, scientists, and doctors discover and develop new tests, treatments, and technologies that have improved the lives of millions. 

“Today, new treatments are providing levels of quality care and transforming lives in ways that once seemed unthinkable. Today, tens of millions of Americans can consult with their doctor, have their vital signs monitored, receive drug infusions, or even dialysis all from the comfort of their homes. Patients have more control over their care and, most importantly, these breakthroughs are improving their health. 

“Thanks to the work of this Committee, seniors are one step closer to having access to more cutting-edge treatments. Just recently, the Committee voted with support of both Republicans and Democrats to allow Medicare to cover anti-obesity medication, multi-cancer early detection screenings, and breakthrough medical devices. When these bills become law, seniors will have access to some of the most advanced treatments available. Importantly, the legislation is an investment to help America tackle the explosive growth of health care spending in the coming decades. With 95 percent of adults 60 and older having at least one chronic disease, innovation and access is a must for the long-term health of our country.

“America has the infrastructure, people, and know-how to stay the world’s leader in medical innovation, but the next ground-breaking cure or treatment will only be found because of strong support for research and development. Policies coming out of Washington must encourage more R&D to happen here in America. We must act to ensure Americans stay at the forefront of developing the best, most effective medical treatments.

“One of the first steps to growing R&D is cutting the red tape keeping new breakthroughs, like revolutionary Alzheimer’s medication, out of the hands of patients. Legislation also approved by this Committee this year would provide better access to these innovative therapies.

“The next step is looking at the tax code to foster an economy where innovators want to take risks and invest in more R&D. The 2017 Trump tax cuts encouraged American companies to hire new workers, create new products, and invest in America. More than $2 trillion was invested in new facilities and R&D activities, but it also succeeded in another key way: jobs. The R&D deduction supports 2 million jobs directly and 21 million more indirectly. These pro-growth policies under President Trump led to bigger paychecks for workers, low unemployment, and a booming economy. 

“The House of Representatives took action earlier this year to keep our R&D incentives strong, but a massive tax hike awaits American families, farmers, innovators, and job creators. Republicans on this Committee have formed Tax Teams to find ways to protect Americans from these tax hikes and also find new ways the tax code can be utilized to better incentivize research and development here in the U.S. and to out compete our competitors like China.  Members are fanning out across the country to listen to Americans directly affected by these issues, and turn their ideas into policies that help workers, families, farmers, and small businesses thrive. 

“Part of that effort includes this hearing and listening to our witnesses here today about their stories and ideas for keeping medical innovation alive and well in America. 

“We also want to hear from everyone in the audience. There will be clipboards passed out for everyone to share with us your concerns and ideas. We will enter those into the official hearing record and take those back with us to Washington as we consider how to unleash medical breakthroughs across the country.”