WASHINGTON – The Information Technology and Innovation Foundation today welcomed the Senate Commerce Committee’s approval of legislation to authorize the COMPETES Act with a number of provisions based in part on ITIF proposals.
The COMPETES Act reauthorization aims to enhance national innovation with a comprehensive approach to invest in research and education. The Committee approved the bill with solid bipartisan support. It includes a provision offered by Sen. Amy Klobuchar, D-MN, and Sen. George LaMieux, R-FL, which would encourage and facilitate the commercialization of innovations taking place in university laboratories and another offered by Sen. Mark Warner, D-VA, and others requiring the Administration to develop a national competitiveness and innovation strategy.
“I am delighted the Committee strengthened this important bill with these amendments,” said ITIF President Robert D. Atkinson. “As ITIF has documented in numerous reports and Congressional testimony, the United States is quickly falling behind other nations when it comes to innovation and competitiveness. I salute the Senators for working with ITIF in developing their ideas to reverse that trend and bolster our long-term economic health and prosperity.”
Senator Warner’s amendment would require the Secretary of Commerce to study all aspects of U.S. competitiveness, from our manufac