TRACK Act of 2023

The TRACK Act of 2023 requires federal agencies (including HHS, NIH, and Defense) to create a searchable public database compiling detailed information about all federal funding for biomedical research and development. The database must include specific details for each contract, grant, or tax benefit - such as funding amounts, patent ownership, product pricing, manufacturing capacity, and clinical trial data - directly affecting pharmaceutical companies, research institutions, and medical device manufacturers receiving federal support. Agencies must make the database publicly available within one month of enactment and update it every two weeks, with penalties of up to $10,000 per day for non-disclosure. This policy change mandates transparency on taxpayer-funded biomedical projects, enabling public access to previously fragmented data about drug development and costs.