BIO Statement on Senate GOP Tax Reform Proposal

BIO Statement on Senate GOP Tax Reform Proposal

Washington, DC (November 10, 2017) – Biotechnology Innovation Organization (BIO) Senior Vice President of Communications Kenneth Lisaius released the following statement today regarding the Senate GOP tax reform proposal:

“BIO applauds Chairman Hatch and the Senate Finance Committee for their dedication to pro-growth tax reform. By lowering America’s corporate tax rate, maintaining the R&D Tax Credit, and moving the U.S. to a territorial tax system, the proposal will make the U.S. more competitive on the world stage and support American jobs and manufacturing. We are pleased that the Committee recognized the important role of the Orphan Drug Tax Credit in encouraging the development of treatments for patients with rare diseases, and we look forward to working with lawmakers to ensure that this vital incentive remains as effective as under current law.”