TRACK Act of 2023

The TRACK Act of 2023 requires federal agencies (including HHS, NIH, Defense, and Veterans Affairs) to create a public database tracking all government funding for biomedical research and development. It compiles specific details about contracts, grants, licensing agreements, and tax benefits related to drug, device, and therapy development - including funding amounts, recipient organizations, product names/prices, and patent information. The database must be searchable by the public within one month of the bill’s enactment and updated every two weeks. This directly affects federal agencies managing biomedical funding and the private companies, institutions, and researchers receiving that support. The goal is to increase transparency about how taxpayer dollars fund medical product development.