Latest News > Business Community Praises Senate Passage of Supplemental Funding for U.S. Innovation

May 22, 2008

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Business Community Praises Senate Passage of Supplemental Funding for U.S. Innovation

Additional Support for Research and Education Will Boost America’s Economic Competitiveness

Washington D.C. - Tapping America’s Potential (TAP), a coalition of 16 of the nation’s leading business organizations, today praised the U.S. Senate for passing significant increases for science and engineering research and math and science education in a supplemental appropriations bill.

“The business community is grateful to the Senate today for helping to improve America’s ability to compete in the world economy,” said John Castellani, president of Business Roundtable. “Their bipartisan efforts to strengthen research and education in the United States will pay dividends to the U.S. economy and better prepare Americans for the 21st century workplace.”

The supplemental appropriations bill—backed with the strong leadership of Senate Majority Leader Harry Reid (D-NV), along with Sens. Robert Byrd (D-WV), Thad Cochran (R-MS), Byron Dorgan (D-ND), Pete Domenici (R-NM), Barbara Mikulski (D-MD), Richard Shelby (R-AL), Richard Durbin (D-IL) and Lamar Alexander (R-TN)—passed in the Senate today by 75-22. It includes $200 million for science and engineering research and math and science education at the National Science Foundation, and $100 million for science and engineering research at the Office of Science in the Department of Energy. The bill must be reconciled with a House-passed measure.

“This funding, included in appropriations that will ultimately be enacted into law, will help ensure continued U.S. technological and economic leadership,” said Castellani. “America’s business community urges the House of Representatives to follow the Senate’s example and help improve America’s ability to compete in the world economy.”

In April, TAP and several other business, higher education and scientific organizations called upon President Bush and the Congress to include funding for critical U.S. innovation priorities, including science and engineering research and math and science education, in a supplemental appropriations bill. TAP will continue to advocate for policies that improve U.S. science and technology capabilities and enhance U.S. competitiveness.

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TAP is composed of 16 prominent business organizations that represent the largest and most innovative companies in America. They have set the goal of increasing the annual number of U.S. science, technology, engineering and mathematics graduates with bachelor’s degrees to 400,000 by 2015.