The Technology Network Supports Rep. James Sensenbrenner's, R-Wis., Networking and Information Technology Research and Development Act, H.R.2086.PALO ALTO Palo Alto, city, California Palo Alto (păl`ō ăl`tō), city (1990 pop. 55,900), Santa Clara co., W Calif.; inc. 1894. Although primarily residential, Palo Alto has aerospace, electronics, and advanced research industries. , Calif.--(BUSINESS WIRE)--June 10, 1999-- The Technology Network (TechNet), the technology industry's bipartisan political network, commends Science Committee Chairman James Sensenbrenner's commitment to America's technological leadership and his introduction of legislation to increase federal research funding Research funding is a term generally covering any funding for scientific research, in the areas of both "hard" science and technology and social science. The term often connotes funding obtained through a competitive process, in which potential research projects are evaluated and and permanently extend the research and development tax credit. The Networking and Information Technology Research and Development The Networking and Information Technology Research and Development (NITRD) program is a unique collaboration of more than a dozen Federal research and development agencies, the NITRD Program seeks to: • Assure continued U.S. Act, which has the support of 25 bipartisan cosponsors, is based on recommendations made by the President's Information Technology Advisory Committee (PITAC PITAC President's Information Technology Advisory Committee PITAC President'S Information and Technology Advisory Committee ). The act would direct nearly $4.8 billion over the next five years to federal research agencies, including the National Science Foundation. The legislation would provide significant new funds to support long-term basic research grants, establish university information technology internship internship /in·tern·ship/ (in´tern-ship) the position or term of service of an intern in a hospital. internship, n the course work or practicum conducted in a professional dental clinic. programs for research at participating corporations and promote basic research by funding the Next Generation Internet program
"Chairman Sensenbrenner's bill will help guarantee America's preeminent place as a technology leader," said Roberta Katz, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of TechNet. "The legislation's $95 million for university internships should be considered a down payment on America's economic future." The legislation would also provide a permanent extension of the research and development tax credit, one of TechNet's primary policy goals. "A permanent R&D tax credit will provide enormous benefits to our nation's economy," stated Art Levinson, President and CEO of Genentech. "By spurring increased corporate long-term research, a permanent credit will drive the New Economy's continued growth and America's continued economic leadership." The Networking and Information Technology Research and Development Act would support basic research projects that will result in substantial long-term gains Long-term gain A profit on the sale of a capital assets held longer than 12 months, and eligible for long-term capital gains tax treatment. rather than short-term, market-driven results. "Government investments in research 20 years ago helped us to realize the technical and economic feats we are witnessing today," stated James Barksdale, former CEO of Netscape Communications and managing partner of The Barksdale Group. About TechNet TechNet is a national bipartisan political network. Its mission is to help its members build working relationships with national and state political leaders and pass federal and state laws that will help foster the New Economy. Its primary public policy priorities for 1999 are: to strengthen the nation's public and private investment in research and development through enactment of a permanent R&D tax credit and increased federal funding for basic research; to protect current accounting rules for business combinations and stock options and to improve K-12 education. For more information on TechNet, see http://www.technetwork.org. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion