Research and development of cures for rare and life-threating diseases will be delayed if H.R. 3, Speaker Pelosi’s Fewer Cures for Patients Act, were to become law, according to industry leaders.

In a letter sent to House and Senate leadership, some of America’s leading supporters of biopharmaceutical research said they are “deeply concerned” about the Democrats’ legislation, which implements government price controls through an extreme and coercive tax on drug creators.

Under Pelosi’s bill, “our ability to continue to invest in future biomedical innovation will be severely constrained, thus crushing the hopes of millions of patients waiting for the next breakthroughs to treat or cure their cancers, rare genetic diseases, Alzheimer’s, or other serious and life-threatening conditions,” the business leaders wrote.

According to a preliminary analysis by the nonpartisan CBO, H.R. 3 will result in fewer cures being developed in the U.S. The partisan legislation empowers European bureaucrats to set prices in America, which will decimate America’s leadership in developing and manufacturing treatments. This will delay access to new medicines and stop life-saving cures from getting to the patients who need them most.

CLICK HERE to read the full letter.

CLICK HERE to learn more about the harms of the Fewer Cures for Patients Act.