[Congressional Record Volume 140, Number 45 (Thursday, April 21, 1994)]
[House]
[Page H]
From the Congressional Record Online through the Government Printing Office [www.gpo.gov]


[Congressional Record: April 21, 1994]
From the Congressional Record Online via GPO Access [wais.access.gpo.gov]

 
      H.R. 4211, H.R. 4212 STIMULATING THE BIOTECHNOLOGY INDUSTRY

  (Ms. ESHOO asked and was given permission to address the House for 1 
minute and to revise and extend her remarks.)
  Ms. ESHOO. Mr. Speaker, 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.

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