[Congressional Record Volume 151, Number 104 (Wednesday, July 27, 2005)]
[Extensions of Remarks]
[Page E1617]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




               INTRODUCTION OF THE CURES CAN BE FOUND ACT

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                             HON. RON PAUL

                                of texas

                    in the house of representatives

                         Tuesday, July 26, 2005

  Mr. PAUL. Mr. Speaker, I rise to introduce the Cures Can Be Found 
Act. This legislation promotes medical research by providing a tax 
credit for investments and donations to promote adult and umbilical 
cord blood stem cell research, and provides a $2,000 tax credit to new 
parents for the donation of umbilical cord blood that can be used to 
extract stem cells.
  Mr. Speaker, stem cell research has the potential to revolutionize 
medicine. Stem cells could hold the keys to curing many diseases 
afflicting millions of Americans, such as diabetes and Alzheimer's. 
Umbilical cord blood stem cells have already been used to treat 67 
diseases, including sickle cell disease, leukemia, and osteoporosis. 
Umbilical cord blood stem cells have also proven useful in treating 
spinal cord injuries and certain neurological disorders. Adult stem 
cells have shown promise in treating a wide variety of diseases ranging 
from brain, breast, testicular, and other types of cancers to multiple 
sclerosis, Parkinson's, heart damage, and rheumatoid arthritis.
  By providing tax incentives for adult and umbilical cord blood stem 
cell research, the Cures Can Be Found Act will ensure greater resources 
are devoted to this valuable research. The tax credit for donations of 
umbilical cord blood will ensure that medical science has a continuous 
supply of stem cells. Thus, this bill will help scientists discover new 
cures using stem cells and, hopefully, make routine the use of stem 
cells to treat formally incurable diseases.
  By encouraging private medical research, the Cures Can Be Found Act 
enhances a tradition of private medical research that is responsible 
for many medical breakthroughs. For example, Jonas Salk, discoverer of 
the polio vaccine, did not receive one dollar from the federal 
government for his efforts. I urge my colleagues to help the American 
people support the efforts of future Jonas Salks by cosponsoring the 
Cures Can Be Found Act.

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