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10/8/2008

Recommendations to Foster Innovation-led Economic Growth
by Mildred Holley, Technology Programs Manager

The Information Technology & Innovation Foundation, a non-partisan research and education institute, recently issued a set of eight recommendations to encourage economic growth through innovation. ITIF proposes these for adoption by the next Administration, suggesting that Congress and the President take concrete steps to grow the U.S. economy over the next decade.

ITIF’s recommendations are:
1. Significantly expand the federal research and development tax credit,
2. Create a national innovation foundation,
3. Allow foreign students receiving a graduate degree to receive a green card,
4. Reform the patent system to drive innovation,
5. Let companies expense new investments in information technology in the first year,
6. Establish a federal chief information officer,
7. Implement a national broadband strategy,
8. Implement an innovation-based national trade policy.

The recommendations are included in ITIF’s report, An Innovation Economics Agenda for the Next Administration. You can find the report at www.itif.org.

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