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Milken Institute Statement on the Passage of the FY2023 Omnibus Appropriations Package

News Release
Milken Institute Statement on the Passage of the FY2023 Omnibus Appropriations Package

The Milken Institute applauds Congress on the passage of the FY2023 Omnibus Appropriations bill. The package includes key health and finance provisions championed by the Milken Institute that will strengthen the biomedical research ecosystem and bolster long-term financial security for all Americans.

FasterCures, a Center of the Milken Institute, is particularly pleased with the inclusion of a number of provisions, including (1) those that will increase clinical trial diversity as we have long advocated for policies aimed at expanding the clinical trial process (and thus access to potential treatments and interventions) to communities of color and other underrepresented populations, (2) authorization for ARPA-H including as part of NIH, (3) reforms to FDA’s accelerated approval process that will help to expedite the delivery of medical products to patients who need them the most, (4) enhanced funding for the National Center for Advancing Translational Sciences (NCATS) that is vital to bringing together good science with patient involvement, and (5) improving pandemic preparedness in order to address the critical gaps in our public health and medical preparedness and response system that were revealed by the COVID-19 pandemic.

“This legislation strengthens our biomedical research ecosystem, ensures a stronger, more efficient FDA and enables our health system to be better prepared for any future pandemic,” said Esther Krofah, Executive Vice President, Health, Milken Institute. “The bill includes important reforms to develop and deliver life-enhancing treatments and innovations to those who need them as rapidly and safely as possible, while enabling underrepresented populations to participate in clinical research.”

MI Finance is pleased to see Congress make it easier for Americans to save and invest for their long-term financial security. We are particularly pleased with the inclusion of provisions that encourage those not saving for retirement to begin to save, encourage savers to increase their retirement savings, and enhance employer offerings for small businesses.

“The Secure 2.0 Act addresses several important issues preventing many Americans from adequately saving for a financially secure and fulfilling life,” said Michael Piwowar, Executive Vice President, MI Finance, Milken Institute. “We at the Milken Institute look forward to continuing to work with Congress on additional ways to address this crucial, bipartisan issue.”