TechAmerica, a technology industry lobbying group, has praised President Barack Obama’s proposed budget for 2012 because it included a variety of initiatives aimed at innovation and technology.
The budget, totaling US$3.7 trillion, includes $148 billion for R&D overall, $32 billion for biomedical research at NIH and additional goals for green innovation and living. It also recommends $31.08 billion for technology programs, $16.65 billion to NASA and $14.43 billion to other research and science programs.
The budget expands and permanently enforces the R&D tax credit, something TechAmerica favors.
“Specifically, we support funding in the proposal that promotes innovation investment. A pro-innovation, competitive tax system is needed to level the playing field for U.S. firms that compete globally,” TechAmerica’s CEO Phil Bond said in a statement.
Bond also said that the industry would support wireless broadband for public safety and in rural areas; the use of smart technology in energy efficiency; improving the speed of patents; and assistance for the small businesses in the startup phase.