OUTLINE OF RECOMMENDATIONS

1. Monitor and Evaluate Investments, Measures, and Innovation Policies of other Nations

a. Benchmark best practices

b. Engage and cooperate abroad

c. Respond and adapt at home

2. Reinforce the traditional pillars of U.S. economic strength and innovation capacity.

a. Raise federal support for R&D

b. Sustain support for university research

i. Stabilize university funding

ii. Use dedicated taxes and sources of revenue

iii. Incentivize private donations

iv. Increase funding of tuition

v. Reduce and streamline regulations

c. Support innovative small businesses

i. Reauthorize and expand proven innovation programs

ii. Experiment with and evaluate new initiatives

iii. Provide policy support for innovation capital

d. Strengthen the skilled workforce

i. Support community colleges

ii. Encourage worker training

iii. Increase funding and opportunities for dislocated workers

iv. Create incentives to induce retirees and potential retirees to remain active in contributing to the American economy

v. Encourage immigration of scientific and entrepreneurial talent

3. Provide a Competitive Tax Framework

a. Benchmark tax and regulatory policy

b. Examine the tax code

c. Pursue prudent deficit reduction

d. Make the Research and Experimentation tax credit permanent



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