An Innovation Economics Agenda for the Next Administration

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. By putting innovation at the center of our nation’s economic policies, we can ensure robust economic growth and rising standards of living for all Americans. ITIF’s Innovation Economics Agenda for the Next Administration lays out eight key recommendations to spur innovation-led economic growth in the United States. Amongst others, these measures include: significantly expanding the federal R&D tax credit, allowing companies to expense new investments in IT in the first year, creating a National Innovation Foundation, and reforming patent and trade policies.