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CANDIDATE RESPONDS TO IEEE: BUSH RENEWS OPPOSITION TO INDUSTRIAL POLICY, CALLS FOR INCENTIVES TO REWARD RISK-TAKERS

CANDIDATE RESPONDS TO IEEE: BUSH RENEWS OPPOSITION TO INDUSTRIAL
 POLICY, CALLS FOR INCENTIVES TO REWARD RISK-TAKERS
 WASHINGTON, Sept. 8 /PRNewswire/ -- President Bush, providing a detailed response last month to questions from U.S. electrotechnology engineers, has renewed his opposition to a national industrial policy. The president advocates an economic growth package to promote global competitiveness for U.S. products.
 "I believe the best way for our country to compete with other nations is to trust our own people rather than government measuring progress by programs created and special interests satisfied," Bush said. "While we are looking for short-term economic stimuli, our economic growth initiatives are based on a long-term growth policy -- increasing investment and savings, assuring the work force is well- trained, and rewarding risk-takers who have helped make America the world leader it is today."
 Bush's comments came in response to a questionnaire to the U.S. presidential candidates from the Untied States Activities unit of The Institute of Electrical and Electronics Engineers, Inc. (IEEE).
 The United States has reached the highest standard of living and the highest level of productivity without creating "an intrusive, government-dominated industrial policy," Bush said. "The government should not dictate manufacturing decisions to individual firms."
 The president told IEEE-USA he will continue his efforts to promote competitiveness with sound trade and tax policies and to eliminate rules and regulations that he said unnecessarily burden American businesses. Bush pledged special assistance to help companies with defense-related business in adjusting to the post-Cold War era.
 To revitalize the nation's manufacturing base and create jobs, the president called for: passing a capital gains tax cut up to a maximum rate of 15.4 percent; implementing an additional 15 percent, first-year depreciation allowance for machinery and equipment (the so-called "Section 1245 property"); making permanent the current 20 percent research and experimentation tax credit; and increasing federal support for emerging technologies to $76.5 billion.
 "To help defense firms and defense workers make the adjustment," said Bush, "my National Technology Initiative will bring new technologies developed at taxpayer expense out of federal laboratories and into the marketplace to help businesses compete."
 He noted that the Council on Competitiveness, chaired by Vice President Quayle, has a working group to increase the transfer of federally funded R&D to the private sector. The group also seeks to identify and remove barriers in the private sector to help bring new technology products and services to market. Bush said his technology policy calls for the federal government to work cooperatively with the private sector in developing generic technologies that will boost economic growth.
 The president stated he has increased federal funding for basic research by 25 percent since 1989, and he pledged continued support for the National Science Foundation, the major source of support for individual investigators.
 Calling for education improvements to ensure a technologically literate work force, Bush said, "If we want to change the country, we've got to change the schools." He pointed to his America 2000 plan, centered on four "transforming ideas":
 -- Creating schools that demand excellence;
 -- Instituting world class academic standards and voluntary
 national exams;
 -- Providing the flexibility that teachers and principals need to
 educate; and
 -- Giving parents more choice in determining where their children
 attend school.
 Bush noted that last year the United States regained its title as the world's leading exporter. He reminded IEEE members that the economic security and prosperity of the United States can rise or fall with the fortunes of our friends and allies. Exports accounted for 70 percent of U.S. economic growth in the past five years, he said.
 "To those who say that, with the Cold War won, we should turn inward and get on with domestic business, I answer: Expanding our trade opportunities is domestic business."
 The IEEE, with over 320,000 members, is the world's largest professional technical society. IEEE-USA promotes the career and technology policy interests of nearly 250,000 U.S. electrical, electronics and computer engineers.
 -0- 9/8/92
 /NOTE: For copies of the IEEE-USA questionnaire, the responses of President Bush and Governor Clinton, and an IEEE-USA statement on technology policy priorities to the party platform committees, contact IEEE Public Relations in Washington, 202-785-0017; or facsimile, 202-785-0835/
 /CONTACT: Pender M. McCarter of IEEE, 202-785-0017/ CO: The Institute of Electrical and Electronics Engineers, Inc. ST: District of Columbia IN: CPR SU: CPN


TW -- DC001 -- 6892 09/08/92 10:03 EDT
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Date:Sep 8, 1992
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