1. Short title This Act may be cited as the Accelerating Biomedical Research Act . 2. Findings Congress finds the following: (1) The National Institutes of Health (referred to in this section as the NIH ) is the leading biomedical research entity in the world. It supports researchers in every State as they discover treatments and cures to prevent and reduce human suffering. Thanks in large part to NIH-funded medical research, Americans today are healthier and living longer. Life expectancy in the United States has jumped from 47 years in 1900 to 78 years in 2009, and disability in people over age 65 has dropped dramatically in the past 3 decades. (2) Over the past 40 years, NIH-supported research contributed to the discovery of over 150 Food and Drug Administration-approved new drugs, new vaccines, and new indications for current drugs. (3) The application success rate is below historic averages. From 1980 to 2003, the last year of the doubling, the grant application success rate ranged between 25 and 35 percent. By 2016, the grant success rate had fallen to 19.1 percent. (4) NIH is vital to the United States economy and supports more than 400,000 jobs across the country. (5) Economists have estimated the return on each dollar of investment in NIH to generate anywhere from $1.80 to $3.20 in economic output. The Federal investment of $3.8 billion in the Human Genome Project from 1988 to 2003 helped drive $796 billion in economic output, which is a return of $141 for every $1 invested. (6) The historic doubling of Federal funding for the NIH ended in fiscal year 2003. Since that time, NIH appropriations have not kept up with biomedical inflation. (7) If NIH had kept up with biomedical inflation, NIH’s appropriation would have totaled $41.9 billion in 2018, more than $4 billion than it received. To restore funding to the 2003 post-doubling level would require Congress to appropriate $45.5 billion in fiscal year 2021, the final year of the Budget Control Act of 2011 ( Public Law 112–25 ). (8) High health care costs