United States Economic and Technology Policy

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Technological innovation has driven impressive job creation and economic growth, and with it has come increased productivity, low inflation and an unprecedented economic expansion. These trends have been nurtured by industry and government actions over the past 30 years, including the deregulation of industries, globalization of markets, a strong venture capital market, and a renewed entrepreneurial spirit. Innovation and growth, supported by increasing government and industry investment in R&D, have helped to sustain the United States as the most competitive nation in the world for many years. America is currently experiencing a revolution in energy, information, bio- and nano-technology that requires increased commitment to investments in education, science and technology in order to maintain the gains realized in the past and maintain American competitiveness in the future.

There was strong bipartisan support in Congress for the authorizing legislation, America COMPETES, which builds on the National Academies' recommendations in the Gathering Storm report. We support the programs authorized in America COMPETES. …