February 19, 2020
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Keep your finger on the pulse of the most critical issues facing the industry, our Members and Patients with BioNJ's bi-weekly Public Policy Update .

Because Patients Can't Wait ®
Reminder: Rare Disease Day in Trenton February 24
Rare Disease Day will be held Monday, February 24, 2020, from 8:30 a.m. – 12:30 p.m. at the New Jersey State Museum in Trenton. Patients, families, caregivers, Patient advocates and others will gather to discuss the challenges facing rare disease Patients and their families in New Jersey.
Senate President Sweeney Addresses BioNJ Annual Dinner Meeting and Innovation Celebration
BioNJ was honored to have New Jersey Senate President Stephen Sweeney address our February 6 Annual Dinner Meeting and Innovation Celebration. In remarks to 650 attendees, Senate President Sweeney praised New Jersey’s life sciences ecosystem for its work in developing cures for Patients around the globe as well as being an economic engine in our State. Senate President Sweeney also discussed policy proposals – such as the Evergreen Innovation Fund – to ensure our State maintains and grows the life sciences sector. BioNJ thanks Senate President Sweeney for participating in this pillar event, and we look forward to working with him to support policies to protect both Patient access and continued biopharmaceutical innovation.  
Senate Special Committee Releases Incentives Report
The New Jersey Senate Special Committee on Economic Growth Issues has released its report with recommendations to improve New Jersey’s tax incentive programs. The Special Committee was convened by Senate President Sweeney to examine the expired Grow NJ program as well as other economic development programs. The report includes 25 recommendations on how to improve transparency, oversight and accountability for all incentive programs moving forward. BioNJ continues to believe incentive programs are an important tool in ensuring the continued growth of our State’s life sciences industry. We look forward to working with our State’s leaders to support policies that promote innovation here in the Garden State.  
Federal Budget Proposal Unveiled 
President Trump has released his budget proposal for fiscal year 2021. The $4.8 trillion federal budget proposal would reduce non-defense spending by five percent while suggesting changes to Medicaid work requirements and food stamp eligibility. The Department of Health and Human Services (HHS) budget detail also includes language related to spending for prescription treatments. In particular, the budget allows for $135 billion in savings from a “bipartisan” drug pricing proposal while supporting provisions to limit Part D out-of-pocket spending and speed generics and biosimilars to market.
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