H.R. 3743 would authorize the Food and Drug Administration (FDA) and the National Institutes of Health (NIH) to increase funding transfers to the Reagan-Udall Foundation and the Foundation for the National Institutes of Health, respectively, up to an annual cap of $5 million each. The foundations are 501(c)(3) organizations created by the Congress to support the missions of FDA and NIH. CBO anticipates that the agencies would transfer the maximum authorized amounts to the foundations each year, about $38 million more than authorized under current law over the 2022-2026 period. CBO estimates that costs associated with the increased transfers would total $29 million over the 2022-2026 period; any spending would be subject to the availability of appropriated funds.
On June 22, 2021, CBO transmitted a cost estimate for S. 1662, the Supporting the Foundation for the National Institutes of Health and the Reagan-Udall Foundation for the Food and Drug Administration Act, as ordered reported by the Senate Committee on Health, Education, Labor, and Pensions on May 25, 2021. H.R. 3743 is identical to S. 1662, and CBO’s estimates of their budgetary effects are nearly identical after adjusting for a later projected enactment date.
