FOR IMMEDIATE RELEASE
Director, Media Relations
Arlington, Va. (July 19, 2022)
|PSC Letter to Congressional Leadership Urges The Quick Passage of The America COMPETES Act of 2022
In a letter
to Speaker Pelosi, Majority Leader Schumer, and Republican Leaders McConnell and McCarthy, PSC urged Congress to finalize and support rapid passage of the America COMPETES Act at the earliest opportunity. PSC noted that since House and Senate passage of related bills, the need for legislation to boost U.S. competitiveness – especially with China – has only increased.
“The time is now for immediate passage of this act. Support from the U.S. government was vital to saving America’s semiconductor industry in the late 1980s and early 1990s, and such support is even more vital today. That industry is not only key for virtually every national security program, it is essential for ensuring U.S. technology and innovation prominence for the entire economy,” said David J. Berteau, PSC’s President and CEO.
“To stay competitive with our adversaries, we also need to encourage R&D investments. Our letter also asks that the final bill include language to allow U.S. companies to take immediate, full deduction of R&D investments. This is the best way to drive long-term technological change and innovation.”
Berteau concluded, “At PSC, we will continue to work with Congressional leadership to support passage of legislation that bolsters America’s economic, security, and technology success.”
For a PDF of this release click here.