Congressman Frank Pallone, Jr (D-NJ), explains the purpose of the National Institutes of Health Innovation Fund, which allows the organization to find cures for diseases that don't have 1 yet.
The National Institutes of Health Innovation Fund is an initiative created by both parties that gives the organization $2 billion a year for 5 years as a way of giving back to a program that had been cut years ago. Congressman Frank Pallone, Jr (D-NJ), said that this section of the act increases funding to the NIH for research and allows the organization to find cures for diseases that don’t quite have 1 yet.
Mr Pallone explained that the most basic, important research is not done at the pharmaceutical or medical device companies, like many likely believe.
“[Research is] done at universities, primarily with money that comes from the National institutes of Health and that basic research is really fundamental,” Mr Pallone said. “That’s what is neglected if the government doesn’t get involved in a major way."