Anna Eshoo: “I rise with my colleague, Mr. Blute, as a proud sponsor of H.R. 4211 and H.R. 4212, legislation which will stimulate the…”

“I rise with my colleague, Mr. Blute, as a proud sponsor of H.R. 4211 and H.R. 4212, legislation which will stimulate the biotechnology industry. In an era of dramatic technological innovations, nowhere have advances been greater than in the medical sciences which are increasingly technologically driven. Biotech is now at the forefront of the high tech industry--developing preventions, treatments and cures for diseases which have eluded us. Just last week a company in my district, the Geron Corp., announced the discovery of an enzyme that will fight cancer. Biotech requires an entrepreneurial driven economic climate and while we are currently the world leader in biotechnology, Federal policies may curtail future biotech advances. Already, investment has fallen off as investors have grown increasingly skittish about the effect of Federal policies on the industry. Without access to capital the industry will not remain competitive and may not even survive. Our two bills will correct this by providing for better coordination of research funds between Federal agencies and providing tax incentives for research. Mr. Speaker, I urge my colleagues to support this legislation. In so doing, we will help advance a critical industry for our Nation. We will help expand jobs, save health care dollars, and save lives. Mr. Speaker, I urge support of the two pieces of legislation that we proudly sponsor today.”