Washington Update: Innovation Act; Student Loan Debt

APLU and a coalition of associations releases a statement in “continued opposition” to the Innovation Act, which would weaken intellectual property rights and undermine the patent system. APLU also joined several higher education groups in endorsing the Student Loan Tax Debt Relief Act.

Joint Statement from APLU, AAU, BIO, IA, MDMA, NSBA, NVCA, PhRMA, SBTC and USIJ on H.R. 9

APLU, the Association of American Universities (AAU), the Biotechnology Industry Organization (BIO), the Innovation Alliance (IA), the Medical Device Manufacturers Association (MDMA), the National Small Business Association (NSBA), the National Venture Capital Association (NVCA), the Pharmaceutical Research and Manufacturers of America (PhRMA), the Small Business Technology Council (SBTC) and the Alliance of U.S. Startups and Inventors for Jobs (USIJ) released a joint statement on H.R. 9, the Innovation Act, which could be considered on the House floor later this month.

The statement reads: “Together, our organizations represent a broad coalition of universities, inventors, manufacturing, technology and life science companies, small businesses, venture capitalists and startup communities. We stand united in our continued opposition to H.R. 9, the Innovation Act, as it is currently drafted. The bill needs significant work and should not be considered for floor action in the House of Representatives in its current form. As drafted, H.R. 9 would dramatically weaken intellectual property rights and undermine a patent system that is vital to incentivizing innovation and job creation in our country. The bill also fails to adequately address abusive practices against legitimate patent owners. We urge House members to meaningfully revise H.R. 9 to target abuses of patent trolls without damaging our nation’s entire innovation ecosystem.”

APLU Joins Other Higher Education Groups in Endorsing Student Loan Tax Debt Relief Act

APLU joined other higher education groups in sending a letter in support of the Student Loan Tax Debt Relief Act (H.R.2429) introduced by Rep. Jim McDermott (D-WA). This legislation would ensure federal student loan debt forgiven through the Income-Based Repayment and Income-Contingent Repayment programs is not taxed as income. Further information on the legislation can be found in Rep. McDermott’s press release.