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WASHINGTON, DC -- Today Congressman David Wu gave the keynote address at a high tech policy roundtable hosted by The Digital Dialogue Forum. The Forum invited Congressman Wu to speak about increasing American competitiveness and enhancing American innovation.
"Innovation is not just a goal, it is a necessity. Is not a partisan issue; it’s a practical one," said Congressman Wu. "The world’s economic borders are shrinking, and America’s ability to remain competitive hinges on our commitment to education, research and development."
To follow are excerpts from Congressman Wu's address:
--FOCUS ON EDUCATION--
"Following the launch of Sputnik in 1957, Congress took major steps to boost education, especially in science and math. Federal dollars also built laboratories, purchased equipment, and altered the quality and quantity of research.
"We must take bold steps now to ensure that American students and workers are prepared for the careers of the future and that our nation is equipped to compete in the global economy. I am proposing a National Defense Education Act for the 21st Century, which will refocus us on education so that we can compete confidently."
--ENCOURAGE GROWTH AND INVESTMENT--
"Our tax laws have generally provided a weak incentive for businesses to buy new technology and equipment. Expanding and accelerating business expensing and depreciation will provide a greater incentive for businesses to invest and improve their financial situation thereby increasing economic growth and leading to better job creation and job retention.
"The research and development tax credit has proven to be enormously successful in assisting companies devote capital to generating the new products and ideas that energize our entire economy. Both are critical to maintaining American competitiveness in the global economy.
"The research and development tax credit was allowed to expire last December. Congress needs to revive this important tax credit."
--SUPPORT NEW TECHNOLOGIES--
"In the last several decades, the well-being of our economy and our citizens has become dependent on technological advances in software, the Internet, information systems, and communications devices.
"While much of the general public wrongly thinks of Open Source as slang for free software, we must recognize that Open Source represents a new paradigm for stimulating innovation. The innovative ideas coming out of the Open Source represent the biggest trend in the computing industry since the Internet.
"With Open Source technology encompassing an entire technological ecosystem, there are more opportunities than ever to increase efficiency, improve data security, enhance customer service, and save money."
--PROTECT INTELLECTUAL PROPERTY--
"Actual experience and cited studies point to the conclusion that companies which do not control the results of their investments -- either through ownership of patent title, exclusive license, or pricing decisions -- tend to be less likely to engage in related research and development.
"The importance of control over intellectual property is reinforced by the positive effect the Bayh-Dole Act has had on the emergence of new technologies and techniques generated by U.S. companies. I support a revamping of the Bayh-Dole Act to improve its technology transfer issues to fit the rapidly changing needs of businesses in this century."
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BACKGROUND (provided by The Digital Dialogue Forum): The Digital Dialogue Forum is recognized as Washington's leading high tech policy roundtable. The forum promotes public policy that advances the growth of technology and electronic commerce. The Forum is comprised of world leading technology companies, hardware and software producers, Internet, telecommunications, and electronic commerce firms.
Through regular meetings with government officials, the Forum helps policymakers understand industry concerns and priorities. It promotes sensible public policy solutions, and builds relations between the high tech industry and government.
Companies attending the roundtable represented many high-technology industries such as bio-technology, software engineering, information management technology, internet service providers, and communications services.
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