The Republican takeover of the House this week could have a
negative impact on
biotechnology exchange traded funds (ETFs)
Kenneth Chang for
The New York Times
research and development at nonmilitary agencies - including those
that sponsor science and health research - would fall 12.3 %, to
$57.8 billion, down from President Obama's requested $65.9 billion
for fiscal 2011. [
Biotech ETFs Readying to Deliver the Goods.
Other agencies that would be impacted:
- The National Institutes For Health would lose $2.9 billion,
or 9% of funds.
- The National Science Foundation would lose 19% of their
budget, or more than $1 billion.
- The National Oceanic and Atmospheric Administration would
lose $324 million, or 34%.
Democrats could try to push the budget bills through Congress
before the Republicans take power in January, but there are not
enough votes for a Senate filibuster. Stem cell research would take
a back seat, which has been in flux since a federal judge ruled in
August that any federal financing violated a Congressional ban
against the destruction of embryos for research. [
5 Things That Drive Biotech ETFs.
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Tisha Guerrero contributed to this article.