House of Representatives Reauthorizes COMPETES Act

The House of Representatives’ vote on Tuesday to reauthorize theAmerica COMPETES Act is essential to ensuring we stay at the front ofthe pack as a leader in scientific and technological innovation. TheCOMPETES ACT investment of $46 billion over the next three years forbasic research programs aimed at boosting science, technology,engineering and math education will help the U.S. encourage innovationand economic growth here at home at a time when we need it most.

Applied Materials is pleased that the Department of Energy (DOE) and ARPA-E (Advanced Research Projects Agency-Energy) will befunded at levels that will allow them to continue to drive innovativescientific and technological advancements. In funding core research anddevelopment, the U.S. is making the right investment in preserving andprotecting our economy and American jobs.

With the House’ssupportive vote on the version already passed in the Senate, the billnow goes to President Obama to be signed into law. Applied Materials and its fellow partners at the Council on Competitiveness have supported this legislation since its inception in 2007.

Also just this past week, the tax package that President Obama signedincluded a 2-year extension of the R&D tax credit and other taxincentives to support business expansion, another important instrumentin fostering economic development.

Applied Materials applaudsthese policy developments and is hopeful that Congress will continue tobuild upon this momentum to further American innovation and businessdevelopment.

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