A relatively simple way to boost the economy and make America even greater is to fix a patent system gone awry. In recent years, major changes to intellectual property policy by Congress, the courts and the executive branch have thrown the system out of whack, deterring inventors from the kind of innovation that creates jobs and growth.
Electric vehicle advocates caught a glimmer of hope in the US last week when it was reported on November 9 that the Senate version of a revised tax plan would keep the federal EV tax credit intact. The House of Representatives tax plan released previously, however, would end the federal EV tax credit.
The United States enacted the world’s first research and development tax credit in 1981. The size of the credit is rather small: The Joint Committee on Taxation estimates that it will cost taxpayers $57.5 billion over five years. Unlike most other special provisions, the credit actually addresses a clear market failure. When firms invest in research, most of the benefit goes to society in general.
In many cases, the aerospace industry is still a primarily male-dominated field. As of last year, one-third of NASA’s employees were women, according to an article by SiliconANGLE. With a new piece of legislation, Congressman Steve Knight (R-Palmdale) and Congresswoman Elizabeth Esty (D-Connecticut) hope to encourage more women to enter jobs in the science, technology, engineering and mathematics (STEM) field.
U.S. Rep. Lamar Smith, R-San Antonio, an influential senior House member first elected to Congress in 1986, announced Thursday that he will not seek re-election in 2018 when his six-year stint as chairman of the House Science, Space and Technology comes to an end.
Small businesses are the backbone of the American economy and employ almost half of the working population. Yet because of their size, they rarely have access to the same information security resources as large firms. Without significant IT departments or dedicated information security personnel, they may be more at risk of cyberattacks than large enterprises.
Sens. Jerry Moran, R-Kan., Mark Warner, D-Va., Roy Blunt, R-Mo., and Amy Klobuchar, D-Minn., on Sept. 28 reintroduced the Startup Act, which would grant more visas to immigrants in the STEM field.
A Senate panel approved bipartisan legislation on Wednesday to pave the way for driverless cars, representing the latest congressional step to address the emerging technology. After months of debate over whether to include trucks and buses in the measure, the Commerce, Science and Transportation Committee agreed to advance a bill that would only remove certain obstacles for getting self-driving cars on the roads.
The US Senate today announced it had reached an agreement internally concerning self-driving car technology. The Senate is expected to pass legislation on October 4th that would clear regulations and restrictions for manufacturers, in essence providing a clear path to putting driverless cars on the road.
Six years ago, Congress passed the America Invents Act to update the US patent system. As part of the Act, a new administrative body, the Patent Trial and Appeal Board (PTAB), and procedures were created within the US Patent Office where parties could challenge and possibly overturn unmerited patents. Yet, in just a few months, the Supreme Court might reverse this nascent progress--with potentially catastrophic effects for American innovation.