It isn’t the best time to be looking for a tax break from Congress as lawmakers focus their fiscal attention on reducing the U.S. budget deficit. That hasn’t stopped a bipartisan group of seven House lawmakers, including three who are members of the tax-writing Ways and Means committee, from backing legislation that would give new tax benefits to biotechnology, pharmaceutical and medical-device companies. “Even in times of fiscal constraints, it is extremely important for us to create the environment for job creation,” Representative Allyson Schwartz, a Pennsylvania Democrat and a sponsor of the measure, said about the timing of the bill. “This is very focused on what is a growth industry that does need incentives,” she told Bloomberg Government in a phone interview.
