Now I'm No Hot-Shot Politician...

Let's face it. After two weeks of storm chasing stories, I'm due for a snoozer.

I don't have any facts. All I have to go by is The Daily Show (NOT fact) and a personal account from a lawyer (also, probably NOT fact) familiar with one of the most sweeping pieces of legislation in American history, the The Patient Protection and Affordable Care Act.

I'm not here to debate whether I think health care should be controlled or facilitated by the government (*ahem*, it should), because I don't want to alienate my single-digit audience. But I am here to present an example of why, as constructed, the bill might not work like it's supposed to.

One of the provisions of the health care bill provides for a Qualifying Therapeutic Discovery Project Credit. In shorthand, this is a provision that sets aside $1 billion for tax credits or grants for small biotechnology companies (less than 250 employees). Such credits/grants would reimburse companies for 50% of selected expenses incurred from 2009-2010 associated with projects that develop homegrown technologies that address some kind of healthcare need.

So it's designed to help domestic small business, which is the target of countless legislation over the years.

Sounds great, right?

Well, think about it. You're technically reimbursing companies for work they've ALREADY DONE, not work that they're GOING TO DO. I suppose that helps the pocketbooks of small business that are hurting, but is it the best way to encourage new growth? In fact, according to the lawyer I spoke with, companies that are out of business have every right to apply for this credit. And companies that are out of business tend to not grow.

I have to stress: I don't know all the facts, and I've unfortunately become so disenchanted with such debates that I don't have the desire to learn all of the facts. And problems like this are probably inevitable given the scope of the problem the government is trying to solve, the insane time constraints, and the compromises that are made to appease various political factions. I suppose we can trust that the committees that decide to whom to grant these credits chooses wisely.

But wouldn't it be better to reward future efforts than past efforts while we're on the road to recovery?

Hooray America!