The race for global innovation advantage is never over. Korea has performed extremely well in that race over the last two decades. But if it wants to stay near the head of the pack, it needs to keep working at it. Fixing the R&D credit system for large firms is a key way to do that.
Science and R&D
September 24, 2008
In today’s economy, innovation – the development and adoption of new products and services, more efficient production processes, and new business models – is the most important factor driving increases in American standards of living.
October 9, 2007
Rob Atkinson's article in ScienceProgress about the importance of innovation for meeting the significant new challenges facing this country. The article discusses policies that the United States should adopt to promote innovation.
October 4, 2007
ITIF President Rob Atkinson’s testimony about globalization of R&D and policy responses, before the House Committee on Science and Technology’s Subcommittee on Technology and Innovation.
July 24, 2007
Rob Atkinson’s article in the July 2007 issue of the Journal of Technology Transfer arguing for the importance of the Research and Experimentation Tax credit. The article calls for several important changes to the credit: doubling its current value, modifying the Alternative Simplified Credit to become incremental, and expanding the flat credit for collaborative R&D.
April 2, 2007
Expanding the Research and Development Tax Credit to Drive Innovation, Competitiveness and Prosperity
ITIF outlines several steps Congress should take to strengthen the credit.
March 20, 2007
American competitiveness in the innovation-driven global economy has become a subject of intense concern, with many pointing to the shortage of well-trained American scientists, technicians, engineers, and mathematicians (STEM). Amid the proliferation of policy proposals to address the problem, however, one critical component has been largely overlooked: the role of specialty math and science high schools. In a new report, ITIF argues that such schools graduate deeply knowledgeable and passionate students of science and math who are more likely to pursue these fields in college and beyond. As a result, funding the expansion of specialty science and math schools must be an important part of any solution to the STEM challenge. The report recommends taking steps to triple enrollment in math and science high schools to reach 140,000 by 2012.
September 5, 2006
The Research and Experimentation Tax Credit: A Critical Policy Tool for Boosting Research and Enhancing U.S. Economic Competitiveness
The Research and Experimentation Tax Credit can play an important role in ensuring that the United States remains an attractive location for global companies to conduct research. Not only does the credit spur the retention and attraction of investment in R&D in the United States, new scholarly research shows convincingly that the credit is an effective tool for stimulating additional research, which in turn leads to faster economic growth. However, while the United States had the distinction of providing the most generous tax treatment of R&D of all OECD nations in the early 1990s, by 2004 we had dropped to 17th most generous.
With nearly three dozen new additions, the latest update of ITIF’s “Tech Policy To-Do List” provides a menu of hundreds of actionable ideas for Congress and the administration to foster innovation, growth, and progress.
Defense innovation is a key driver of U.S. security and economic competitiveness, however our preeminence in this area is under threat.