BIO Applauds MLP Parity Act and thanks House, Senate sponsors.
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Press Release Summary:
According to BIO President and CEO Jim Greenwood, Master Limited Partnership (MLP) Parity Act "will level the playing field between renewable fuels and fossil fuels in tax policy that shapes private investment decisions." Greenwood went on to commend inclusion of renewable chemicals, "for the first time establishing tax parity for this growing sector," and commented how this legislation will help drive employment and economic growth while reducing foreign oil dependence.
Original Press Release:
BIO Applauds MLP Parity Act; Thanks House and Senate Sponsors
WASHINGTON--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 represents more than 1,100 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. BIO produces BIOtechNOW, an online portal and monthly newsletter chronicling “innovations transforming our world.” Subscribe to BIOtechNOW.
Upcoming BIO Events
World Congress on Industrial Biotechnology
June 16–19, 2013
Montreal, Quebec, Canada
BIO IPCC Conference
November 6-8, 2013
Washington, DC
Pacific Rim Summit on Industrial Biotechnology & Bioenergy
December 8-11, 2013
San Diego, CA
Contacts
Biotechnology Industry Organization
Paul Winters, 202-962-9237
Web: www.bio.org
Blog: www.biotech-now.org
Twitter: @IAmBiotech
