"As a think tank on the cutting edge of innovation policy, ITIF is encouraged by the Administration's continued commitment to boosting U.S. competiveness and innovation. By invoking Sputnik in his State of the Union, the President called on the country to accept that we are at an historic moment. America can pour it on and win the innovation race or coast on past success and slip further behind.
ITIF is pleased that this Administration is moving innovation closer to the heart of our economic policy, where it needs to be. We welcome the inclusion of ideas we have long championed, such as an expanded and permanent research and development tax credit, investment in scientific research, education reform, and energy innovation. These are critical elements of a 21st century innovation strategy.
However, we need to intensify our pace and effort. The race for global innovation advantage is like nothing we have known in our long history as a nation. We are falling behind as never before. While it's critical to invest in innovation and education, we need to do more. We need to also make the U.S. tax code more competitive, not just simpler. We need to dramatically step up our efforts to combat foreign technology mercantilism, and focus more on enhancing institutional innovation in the government and private sector.
The updated Strategy for American Innovation