Technology for America's Economic Growth, a New Direction To Build Economic Strength.

Investing in technology is investing in America's future. U.S. technology must move in a new direction to build economic strength and spur economic growth. The traditional roles of support of basic science and mission-oriented technological research must be expanded, so that the federal government plays a key role in helping private firms develop and profit from innovations. The development of civilian technology must be accelerated with new criteria for creating a market that rewards invention and enterprise. The challenge demands that we focus on the following goals: (1) long-term economic growth that creates jobs and protects the environment; (2) a government that is more productive and responsive to the needs of its citizens; and (3) world leadership in basic science, mathematics, and engineering. Fiscal policies that support research and development in education and industry are required. Technology must be managed for economic growth, with the aid of a reinvigorated Office of Science and Technology Policy and the new National Economic Council. The new initiatives that will build our economic strength include extension of the research and experimentation tax credit, and investment in a national information infrastructure and advanced manufacturing technologies. Boosting the automotive industry, improving education technology and training, and investing in energy efficient federal buildings are other strategies that must be adopted. (SLD)