Technology incentives launched

WASHINGTON - Amid the uproar over the President's blast at drug prices, the Congress and the White House last week called for the implementation of targeted capital gains legislation supported by the biotech industry.

The legislation was introduced in the Senate by Dale Bumpers, D-Ark., and in the House by Robert Matsui, D-Calif. The bills would allow the initial $5 million raised by a company to be treated as seed capital and the first $100 million as venture capital. Gains on both categories earned after a five-year holding would be eligible for a 50 percent exclusion. ...