Klobuchar, Scott Brown Introduce the Innovate America Act

Senators Amy Klobuchar (D-MN) and Scott Brown (R-MA) “today introduced bipartisan legislation that would help revitalize America’s innovative edge and ability to compete in the global economy,” according to a joint press release.

Specifics:

  • Encourage greater commercialization of Research and Development by expanding the Basic Research Tax Credit to include all industry-funded university research
  • Allow companies to take a flat 30-percent tax credit for donating equipment to high schools and technical and community colleges
  • Fund 100 new Science, Technology, Engineering, and Mathematics (STEM)-focused high schools
  • Incentivize colleges and universities to increase graduation rates for STEM students
  • Expand undergraduate research opportunities
  • Establish a Website for technology commercialization ideas
  • Establish a manufacturing assistance program
  • Remove regulatory barriers for top 20 exporting industries
  • Enforce existing international exporting and importing laws
  • Reduce unnecessary printing and publishing costs of government documents
  • Eliminate bonuses for poor performance by government contractors
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Filed under Education, Research, Taxes

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