Buy a bond, an NIH bond

The linkurl:NIH needs money,;http://www.the-scientist.com/news/display/49077/ and now, everyone can pitch in. If legislation proposed August 3 passes Congress, you will be able to buy a US Treasury bond and send 10% of the interest to the NIH institute of your choice. It may not seem like much, but US Rep. Steve Pearce (R-New Mexico) -- who co-sponsored the bill along with Emanuel Cleaver (D-Missouri) and Dan Burton (R-Illinois) -- noted that in fiscal year 2006, the Treasury Department redeeme

By | August 10, 2007

The linkurl:NIH needs money,;http://www.the-scientist.com/news/display/49077/ and now, everyone can pitch in. If legislation proposed August 3 passes Congress, you will be able to buy a US Treasury bond and send 10% of the interest to the NIH institute of your choice. It may not seem like much, but US Rep. Steve Pearce (R-New Mexico) -- who co-sponsored the bill along with Emanuel Cleaver (D-Missouri) and Dan Burton (R-Illinois) -- noted that in fiscal year 2006, the Treasury Department redeemed $7.9 billion in interest on bonds. If 20% of those bonds had been "Healthy Bonds," as Pearce calls them, the NIH would have pocketed an extra $158 million. That's about 1/200th of the current NIH budget, but some scientists probably will take whatever they can get. The linkurl:Association of American Medical Colleges;http://www.aamc.org/advocacy/library/research/corres/2007/080707.pdf endorsed the bill, the "Americans Saving Through Health Research Bonds Act of 2007"(linkurl:H.R. 3434;http://thomas.loc.gov/cgi-bin/bdquery/z?d110:h.r.03434 ) on August 7. The bill has been referred to the House Ways and Means Committee for review. Jessica Carter, a spokesperson for Pearce, says that if it's passed, the Congressman hopes to use other lobbying groups to get the word out.

Comments

Avatar of: Dr.Shanthi Raam

Dr.Shanthi Raam

Posts: 43

August 11, 2007

This is an excellent idea. Scientists are tax payers who also contribute through their taxes. Why not buy bonds, earn interest and give part of it back to scientific research? It is indeed a workable solution. These bonds should of course be tax-free bonds. Why did it take so long to come up with this idea?
Avatar of: Dan

Dan

Posts: 2

August 12, 2007

Treasury Bonds are lacking this year. One needs to diversify and do something more safe, such as CD or money market accounts.\n\nDan Grosp\nhttp://www.grosp.com
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