WASHINGTON—Following the introduction of the Endless Frontier Act today by Sen. Chuck Schumer (D-NY) and Sen. Todd Young (R-IN), ITIF released the following statement from Stephen Ezell, Vice President for Global Innovation Policy:
ITIF commends the introduction of the Endless Frontier Act, a seminal piece of legislation taking definitive steps to restore American competitiveness in 10 key advanced-technology industries of the future, such as biotech, clean energy, and semiconductors.
The Endless Frontier Act provides $100 billion over 10 years for the research, development, and commercialization of these technologies. The legislation puts technology commercialization on an equal footing with scientific research in America’s national innovation system by creating a new technology directorate at the National Science Foundation.
Further, drawing on policy recommendations from ITIF and Brookings, the legislation seeks to empower regional competitiveness across the United States by providing $10 billion over five years to create 10 to 15 regional technology hubs, positioning them to become leading centers for the research, development, and production of leading-edge technologies.
Overall, the Act represents vital legislation preparing America for the intense global competition—including with China—for leadership in the advanced-technology industries of the future. This is a much needed measure to succeed in the race against China.
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