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.
The White House, with its “Startup America” initiative as part of its strategy for American Innovation, has added a section to its website dedicated to helping new companies navigate the funding stage.
“We’re hopeful that any final budget compromise with Congress will harness 21st-century technology in order to help promote the fiscal responsibility and restraint that is needed to address the overall budget deficit,” said Bond. “Increased investments in innovation will only serve to enhance government efficiency, savings, performance, productivity, transparency and effectiveness for all citizens.”