BIO Applauds MLP Parity Act; Thanks House and Senate Sponsors

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The Biotechnology Industry Organization (BIO) today applauded the introduction of the Master Limited Partnership Parity Act, authored by Sen. Chris Coons (D-Del.) and co-sponsored in the Senate by Sens. Jerry Moran (R-Kan.), Debbie Stabenow (D-Mich.) and Lisa Murkowski (R-Alaska); in the House, the bill was sponsored by Reps. Ted Poe (R-Texas), Mike Thompson (D-Cal.), Peter Welch (D-Vt.) and Chris Gibson (R-N.Y.)

 BIO President & CEO Jim Greenwood said, “The U.S. faces the challenge of reducing its costly dependence on foreign oil and competing in a $2.4 trillion worldwide clean energy market. This legislation will level the playing field between renewable fuels and fossil fuels in tax policy that shapes private investment decisions. We are especially pleased that this legislation includes renewable chemicals, for the first time establishing tax parity for this growing sector. This will clear a path for innovation that drives employment and economic growth and reduces dependence on foreign oil.”

About BIO
BIO is the world's largest trade association representing biotechnology companies, academic institutions, state biotechnology centers and related organizations across the United States and in more than 30 other nations. BIO members are involved in the research and development of innovative healthcare, agricultural, industrial and environmental biotechnology products. BIO also produces the BIO International Convention, the world’s largest gathering of the biotechnology industry, along with industry-leading investor and partnering meetings held around the world. BIOtechNOW is BIO's blog chronicling “innovations transforming our world” and the BIO Newsletter is the organization’s bi-weekly email newsletter. Subscribe to the BIO Newsletter.