2011 State of the Union Address: TechAmerica offers high-tech comments
Pro-innovation tax reform, free trade, improved education, immigration reform, broadband deployment, a permanent R&D credit and securing cyberspace are all critical for honing our competitive edge in the 21st century economy, said TechAmerica.
TechAmerica President and CEO Phil Bond issued the following statement in response to the prepared text of the President’s State of the Union address.
“We heartily agree with the President that if we are to win the future, our nation’s focus must be on accelerating entrepreneurship, innovation, global competitiveness and job creation. Much remains to be done to keep America at the cutting-edge, however. Pro-innovation tax reform, free trade, improved education, immigration reform, broadband deployment, a permanent R&D credit and securing cyberspace are all critical for honing our competitive edge in the 21st century economy.
“According to TechAmerica Foundation’s “Cyberstates 2010” Report, the U.S. high tech industry employs 5.8 million people at 375,600 establishments with a payroll of $516 billion, accounting for 10 percent of total U.S. private sector employment. U.S. high-technology workers are paid an average wage of $84,400 which are 86 percent higher than the average private sector wage.
“Preparing Americans to perform and create jobs of the future requires investment in the building blocks of innovation, such as research and development, physical infrastructure, human capital and a competitive tax code.
“America must also have a strong, competitive agenda for free trade that will help open new markets to U.S. exports and create jobs. U.S. high-tech exports supported 944,300 domestic jobs in the United States and high tech was the United States largest industry export according to TechAmerica’s “Trade in the Cyberstates 2010” Report. Ninety-five percent of the world’s population lives outside the United States and tech companies on average depend upon exports for half all revenues.
“The first principle of comprehensive tax reform should be to make American companies more competitive. If nothing changes by this spring, the U.S. will tax corporations at a higher rate than any other nation by next spring.
“Technology also represents a clear path to a smarter, more efficient government. Innovation is the key to saving taxpayer dollars and helping government to work better for all Americans. We support the President’s efforts to make the government a better customer and user of technology and call on Congress to support that effort in its oversight and appropriations processes.”
TechAmerica represents approximately 1,200 member companies of all sizes from the public and commercial sectors of the economy; it is the industry’s largest advocacy organization and is dedicated to helping members’ top and bottom lines. www.techamerica.org