The S&P 500 is setting all-time highs once again but one sector that is notably getting left behind is the biotech group. Biotech stocks had been well ahead of the S&P 500 for much of 2019 (the SPDR S&P Biotech ETF (XBI) was up more than 30% at one point) but have since pulled back nearly 10% in relatively short order.Has anything fundamentally changed in the group? Not really. Biogen ended its Alzheimer's drug trials in March which sent the stock plummeting but the rest of the sector's big names have been relatively nondescript. There's also some degree of profit taking going on but the big reason for the pullback has been Washington rhetoric.Ongoing talk in Washington of taking on the healthcare companies regarding drug pricing and the debate over Medicare-For-All has cast a cloud over the sector. With a split Congress now (and probably for the foreseeable future) it seems unlikely that we'll see meaningful healthcare reform any time soon. If that's the case, I feel that biotech stocks are currently on sale.The iShares Nasdaq Biotechnology ETF (IBB) which has about one-third of its assets in the big four - Celgene (CELG), Biogen (BIIB), Amgen (AMGN) and Gilead Sciences (GILD) - trades at around 19 times earnings, but XBI, which equal-weights its roughly 120 holdings, trades at a forward P/E of just 14.The earlier 2019 rally in biotechs may have gotten a little overcooked but the current 8-9% correction has brought the sector back to neutral. Earlier this year, I recommended taking about 10% of biotech holdings off the table to lock in gains. At this point, the biotech sector looks like a buy again. In particular, I'd favor buying XBI over IBB.What do you think? Are you buying the dip in biotech? Comment down below.Disclosure: I own shares of XBI.