Science and R&D
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As nations engage in a race for global advantage in innovation, ITIF champions a new policy paradigm that ensures businesses and national economies can compete successfully by spurring public and private investment in foundational areas such as research, skills, and 21st century infrastructure. In the area of science and R&D policy, ITIF promotes public and private investment in research and development through public funding for research at national laboratories and universities, tax incentives to encourage business R&D, and policies to spur technology transfer from lab to market.
Vice President, Global Innovation Policy, and Director, Center for Life Sciences Innovation
Information Technology and Innovation Foundation
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Head of Policy, Centre for Canadian Innovation and Competitiveness
Information Technology and Innovation Foundation
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China Is Rapidly Becoming a Leading Innovator in Advanced Industries
There may be no more important question for the West’s competitive position in advanced industries than whether China is becoming a rival innovator. While the evidence suggests it hasn’t yet taken the overall lead, it has pulled ahead in certain areas, and in many others Chinese firms will likely equal or surpass Western firms within a decade or so.
Why Congress Should Restore Full Expensing for Investments in Equipment and Research and Development
The tax law allowing firms to fully expense their research and development (R&D) costs expired at the end of 2021, and full expensing of equipment costs will begin phasing out in 2023. This decreases firms’ incentive to invest in these key drivers of economic growth and competitiveness. Congress should restore and make permanent full expensing for these investments.
More Publications and Events
February 21, 2025|Blogs
Fact of the Week: Europe Trails the United States by Over 26 Percent in Share of Global Biopharma R&D
European firms are now responsible for just 29 percent of global biopharma research and development; U.S. firms lead at 55 percent.
February 10, 2025|Blogs
Fact of the Week: In the 18 FDA-Approved Therapies Developed With NIH Grants, Private Funding Was 66 Times Greater Than NIH Investment
NIH-funded research played a part in the development of 18 FDA-approved therapies between 2000 and 2020, investing $670 million. By comparison, private firms invested $44.28 billion in these therapies, 66 times more than the federal government.
January 30, 2025|Events
Scale Matters: Understanding The Economics of Global Semiconductor Innovation
Watch now for an expert panel elucidating the innovation economics of the global semiconductor industry, exploring how the industry is capitalized, and exploring the landscape of global semiconductor competition and policy in the year ahead.
January 21, 2025|Events
The Worst Tech Policies of 2024: How the New Administration and Congress Can Turn the Page
Watch now for a virtual panel discussion with technology policy experts who highlighted and critiqued the most counterproductive tech policies of the past year, and considered how the incoming administration and Congress can turn the page.
January 15, 2025|Blogs
Beyond the Numbers: The Truth About US Business R&D Growth
The growth of business R&D spending from 2018 to 2022 was quite uneven, with nonmanufacturing industries’ growth rate far exceeding that of manufacturing industries. For the United States to successfully compete with China, most industries need to be strong in innovation, which requires robust R&D increases. Congress must pass pro-innovation tax reforms.
January 6, 2025|Blogs
Immigration and Innovation: What’s the Connection?
U.S. immigration policy should focus on strengthening strategic skills in advanced sectors. It is in America’s best interest to have the world’s best scientists and engineers working in our STEM industries.
December 20, 2024|Blogs
R&D Under Attack: How the Loss of Immediate Expensing Reduces Innovation Inputs
It is time for Congress to restore the immediate expensing of R&D expenditures by passing the Tax Relief for American Families and Workers Act of 2024.
November 13, 2024|Testimonies & Filings
Comments to the UK’s Department for Business and Trade Regarding the Modern Industrial Strategy Green Paper
The UK government needs to make a choice: competitiveness and growth or heavy-handed regulation in the service of social policy. It can have one but not both.
November 4, 2024|Blogs
Fact of the Week: US Microbusinesses Reported $7.6 Billion in R&D Costs in 2022
Companies with less than 9 employees, also known as microbusinesses, reported $7.6 billion in R&D investments in 2022, of which $6.7 billion was invested domestically and $5.7 billion was performed by the microbusiness itself.
October 8, 2024|Op-Eds & Contributed Articles
How to Win Techno-Economic Competition with China
It is often said that the Chinese economy cannot innovate. This is a dangerous assumption.
