Representative Adam Smith (D-Tacoma) will join the Democratic Leadership Council for a discussion on “Public Policy and the Future of the Biotechnology Industry,” on Tuesday, August 22 in Seattle.

Biotechnology has the potential to develop new treatments and cures for many disabling diseases and improve the quality of life for million of Americans. By providing funding for basic research, ensuring the protection of intellectual property and investing in regulatory agencies such as the Patent and Trademark Office and the Federal Drug Administration, the federal government can encourage advances. The Puget Sound region is well positioned to prosper from developments in the biotechnology industry, but future growth of the industry hinges on a number of tough questions, including:

Will health care coverage provide reimbursements for biotech-based products that are adequate for the industry to survive and prosper? 
Will opponents of biotech succeed in restricting key areas of research and application, such as stem cells, cloning and genetic engineering of plants and humans? 
Will the necessary supports for the industry — venture capital, biomedical research and a constant supply of trained scientists and technicians —be available to meet the industry’s needs? 
Participating in discussion of how state and federal policy affects the biotechnology industry are representatives from Seattle’s biotechnology community, public and private health care and research professionals and federal and state public policy leaders. 

For further information on the conference, visit www.ndol.org or contact Eric Wortman at (202) 546-0007.  To speak with Smith during the day, please contact Katharine Lister at (202) 225-6902.

 What:          “Public Policy and the Future of the Biotechnology Industry”

 When:          Tuesday, August 22, 2002
                      9:30 AM – 1:30 PM 

 Where:        Edgewater Hotel, Olympic Ballroom
                     Seattle, WA

 Who:          Representative Adam Smith, (D-Tacoma)
                    State Representative Aaron Reardon, (D-Everett)
                    Dr. Leroy Hood, president and director, Institute for Systems Biology
                    Robert Atkinson, vice president and director of the New Economy and
                                                  Technology Project,
                    Progressive Policy Institute
                   Jeff Lemieux, senior economist and health policy analyst, Progressive
                                           Policy Institute
                   Bob Nelsen, ARCH Venture Partners
                   Cathryn Campbell, Campbell & Flores LLP
                   Barbara Cosgriff, NASDAQ
                   John Morris, Celsis International
                   Patrick Ronan, Biotechnology Industry Organization

Early this morning, the House of Representatives passed legislation to provide Trade Promotion Authority and expand health care and unemployment assistance to workers dislocated by global competition.  For the first time ever, Trade Adjustment Assistance includes a new health care benefit for laid-off workers and doubles funding for job training.  The trade package also extends eligibility for both health care and job training to “downstream” workers - for example, suppliers to factories that have shut down - and workers whose factories have relocated overseas.  The following is a statement by Congressman Adam Smith: 

“There are two statistics related to trade that stand out in my mind.  First, 96 percent of people live someplace other than the United States.  Second, despite comprising only four percent of the world’s population, the United States is still responsible for 20 percent of the world’s consumption.  If we wish to expand and grow our participation in developing global markets, we need to gain access to those markets. 

“What’s more, for the first time ever, this bill puts environment and labor concerns on par with other negotiating objectives.  That is a big step forward from the legislation that was passed in 1997, which prohibited labor and environment from being a part of trade agreements.  

“70 percent of world ranks below us in labor and environmental standards.  Does that mean we’re not going to trade with them, that we’re not going to interact with them?  That we’ll erect a protectionist barrier?  The only way to make improvements in global standards and to secure global stability is to move forward and interact with foreign markets.  Without the ability to negotiate reduced tariff barriers to other countries we cannot move forward.  

“I opposed the original version of trade promotion authority because nothing was done to help American workers.  I’m very pleased that the U.S. Senate successfully added many provisions to improve the bill, most notably the addition of Trade Adjustment Assistance.

“In today's economy, workers need to update their skills constantly.  This bill triples the assistance available to laid-off workers through the Trade Adjustment Assistance program.  For the first time ever, there will be a health care benefit to offset the high cost of health care premiums.  Funding for job training is doubled.  Undoubtedly, this is an extremely solid worker benefit package that will help tens of thousands of laid-off workers take care of their families and update their skills so that they can succeed in the 21st century economy.

“Passage of Trade Promotion Authority is just the first step.  As Congress and the White House work together on a trade agenda that advances our foreign policy goals, strengthens American's economy and provides opportunity to America’s workers, we need to push other countries to improve their labor and environmental standards and help give them the tools to do so.  We need to ensure that future trade agreements don’t put environmental and health regulations at risk.  We need to open overseas markets to American goods and services.  I am committed to working constructively to advance all of these goals in the coming years.”

For more information on Congressman Adam Smith’s position on Trade Promotion Authority and Trade Adjustment Assistance, visit www.house.gov/adamsmith.