Shenango Valley News

In Washington D.C., two leading members of the Ways and Means Committee have reintroduced the Mental Health Research Accelerator Act. Chairman Mike Kelly (R-PA) and Ranking Member Mike Thompson (D-CA) are the key figures behind this bipartisan initiative, which seeks to stimulate collaboration between private companies and research institutions in the fields of neurology and mental health.

Rep. Kelly emphasized the importance of utilizing all available resources to improve mental health care access and outcomes. "When it comes to addressing mental health access and care, we must utilize every tool in our toolbox," he stated. This legislative move aims to leverage America's tax system to promote research partnerships focused on brain health. Kelly expressed pride in working alongside Thompson on what he describes as vital legislation.

Rep. Thompson highlighted the necessity of investing in research to address the root causes of mental health issues. He pointed out that mental illnesses often underpin challenges such as homelessness, substance abuse, and workplace difficulties. Thompson advocates for a shift from solely managing symptoms to proactive research aimed at prevention and resolution: "Simply funding symptom management isn’t enough—we must get ahead of the problem."

The Mental Health Research Accelerator Act, designated H.R. 2085, proposes a system of economic incentives, through which private entities can partner with research universities to develop new drugs and treatments. Garen Staglin of the One Mind Foundation underscored the burden of mental illness in the U.S., stating that over 60 million Americans are affected by it, with an economic impact exceeding $1 trillion annually. Staglin emphasized, “This is a non-partisan issue and merits the support of everyone.”

The act offers $10 billion in tax credits over six years for collaborative neurological research efforts. Because neurological research is expensive with uncertain market outcomes, investments in groundbreaking research have been insufficient. The act caps credits at 25 percent of allowable expenses, distributing them on a competitive basis determined by merit via the Treasury Department.