From the Summary: "The term bioeconomy refers to the share of the economy based on products, services, and processes derived from biological resources (e.g., plants and microorganisms). The bioeconomy is crosscutting, encompassing multiple sectors, in whole or in part (e.g., agriculture, textiles, chemicals, and energy). Many predict that the bioeconomy will be a key component of the future economy. Specifically, many view the development of and transition to predominantly a bioeconomy as a means to address grand challenges such as climate change, food security, energy independence, and environmental sustainability. [...] Congress may consider a number of issues regarding advancement of the U.S. bioeconomy, including the development and implementation of a national bioeconomy strategy, federal investments in bioeconomy-related research and development, expanding the bioeconomy workforce, promoting and furthering the development of regional bioeconomies, increasing both the market for bio-based products and services, as well as public awareness and acceptance of bio-based products and services. Conversely, Congress may decide there is no need to restructure federal activities and policies, including some long-standing efforts (e.g., bio-based fuels or agricultural biotechnology), under a bioeconomy framework."
CRS Report for Congress, R46881
Congressional Research Service: https://crsreports.congress.gov/