President Bush provokes ecstasy

The responses to George W Bush's state of the union address are coming in.

John Hopfield, President of the American Physical Society, "was exuberant," it says here. "Economists of almost every persuasion agree that the future of the American economy depends upon our ability to innovate and educate," he added. "Science research and education are two key components to achieving those goals."

Will it happen? Should do. There are "Innovation" bills awaiting action in the Senate. And the House Democrats have an innovation agenda that is their number one priority for 2006. So, the APS says, the House Republicans only have to climb abroad. "I fully expect they will. On this issue, we must set political partisanship aside and work together to get the job done. Our future depends on it."

Stirring stuff, and echoed by Ralph W. Wyndrum Jr President of the IEEE-USA. His endorsement tells us that "The United States can no longer take for granted the competitive edge that our scientific and technological capabilities have provided us in the past. The President's remarks indicate that he understands this, and plans to take definitive steps towards protecting and preserving our global leadership in innovation and competitiveness."

There's a lot more on the President's plans over on the White House web site. There you will read that The American Competitiveness Initiative "will increase Federal investment in critical research, ensure that the United States continues to lead the world in opportunity and innovation, and provide American children with a strong foundation in math and science. The American Competitiveness Initiative commits $5.9 billion in FY 2007, and more than $136 billion over 10 years, to increase investments in research and development (R&D), strengthen education, and encourage entrepreneurship and innovation."

The business angle is there too. Bush wants to "Encourage Bolder Private-Sector Investment In Technology" so he wants to make the R&D tax credit permanent.

The White House tells us that: "A permanent R&D tax credit would enable companies to have certainty in their tax planning and therefore be bold in their R&D investment strategy."

This will costs $86 billion over ten years and "will eliminate problems and uncertainty associated with its temporary nature". And as part of the American Competitiveness Initiative, "the President is also committed to working with Congress to modernize the credit to make it even more effective and efficient at encouraging private sector innovation".