Three Steps Congress Can Take Now to Spur U.S. Innovation

by David Isaacs, Vice President, Government Affairs

The semiconductor industry has long been vital player in driving U.S. innovation. For example, American semiconductor companies invested $32 billion in research and development in 2012 – one of the greatest shares of revenue of any industry – and nearly half of the top 20 U.S. corporate patent recipients are semiconductor companies, demonstrating the industry’s consistent focus on innovation.

Just as the semiconductor industry does its part to sustain the pipeline of discoveries that drive economic growth, policymakers should do their part by enacting measures that remove roadblocks to innovation. In a Dallas Morning News op-ed this week, Rich Templeton, chairman, president and CEO of Texas Instruments and SIA board member, outlined three such legislative initiatives that Congress should swiftly enact:

“Congress should give the president the authority he needs to cut the best deal he can to open more markets to American-made goods and services by passing trade promotion authority …

Pass effective immigration reform that both secures the borders and helps U.S. companies with access to the world’s best talent and brightest minds, especially foreign talent produced by our own universities.

Finally, when fixing our nation’s spending problems, lawmakers should take care not to short-shrift the future and provide adequate resources for research, infrastructure and education.”

All of these measures have the overwhelming support of leaders in the business, academic, and scientific communities. They also enjoy bipartisan support in Congress. Our elected leaders should act quickly to approve these initiatives in order to keep America at the forefront of innovation.