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Research and Development (R&D) is a critical phase in the innovation cycle and without a strong public-private partnership in R&D, America risks losing its technological superiority and global economic advantage. Representative Eshoo is a strong advocate for policies that encourage increased investment in research and development in the United States, such as increased funding for research and science education, extension of the Research and Development Tax Credit, and coordination of public-private partnerships.
America COMPETES Act
On January 4, 2011, President Obama signed H.R. 5116, the America COMPETES Reauthorization Act. This bill continues and expands the work of the initial COMPETES legislation by:
- Increasing the funding for basic research over ten years and reauthorizing ARPA-E;
- Providing an array of research and development grants;
- Encouraging high-risk, high-reward energy technology development;
- Creating new programs to support regional collaboration in research and technology industries;
- Providing innovative technology federal loan guarantees for small- and medium-sized manufacturers, to help them access capital to become more efficient and stay competitive; and
- Expanding and strengthening science, technology, engineering, and mathematics (STEM) education programs at all levels of education. Read more about STEM education.
The America COMPETES Act as passed into law in 2007 doubled the funding for the National Science Foundation, the Department of Energy Office of Science, the National Institute of Standards and Technology, and the Manufacturing Extension Partnership over ten years. It established the Advanced Research Projects Agency for Energy(ARPA-E), and funded high-risk, high-reward, pre-competitive technology development.
The bill also created a program to provide grants for outstanding researchers in the early stages of their careers at both NSF and the Department of Energy. It encourages public-private partnerships by coordinating research infrastructure needs with universities and national labs, and strengthens the planning and coordination for interagency research and development in information technology, including deployment of high performance computers for use by the research community.
R&D Tax Credit
Rep. Eshoo has consistently supported legislation to extend and expand the Research and Development Tax credit as part of her numerous efforts to increase domestic investment and create more high-quality American jobs. On March 8, 2011, she joined as an original cosponsor of H.R. 942, which would expand and make permanent the alternative simplified research credit. During the 111th Congress, Rep. Eshoo led an effort which urged Congressional Leaders to act on similar legislation by championing a joint-letter signed by more than 120 Members of the House of Representatives. As Congress moves forward with tax reform proposals in the 113th Congress, Rep. Eshoo will continue to fight for a permanent and expanded tax credit for innovative research and development.
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