May 28, 2010

WASHINGTON, D.C. - Congressman André Carson voted today to approve H.R. 5116, the America COMPETES Reauthorization Act of 2010. This key measure will create jobs and support research and development to ensure America remains a global economic leader.

COMPETES will double funding for basic scientific research over 10 years, as well as establishes an innovative technology federal loan program. These loan guarantees will help small- and medium-sized manufacturers stay competitive be increasing access to capital and encouraging investment in innovation.

"In order for our economic comeback to continue, manufacturing has to succeed," said Congressman Carson. "For every dollar spent in the manufacturing sector an additional $1.36 in economic activity is generated. This represents a stronger return on investment compared to other sectors."

Support for the bill has come from business, research and academic organizations including the U.S. Chamber of Commerce, Information Technology Industry Council, and the National Association of Manufacturers.

H.R. 5116 also continues to improve on science, technology, engineering and math (STEM) instruction by strengthening programs across various education levels. The legislation continues programs for teacher training and creates grants to increase the number and quality of students receiving undergraduate degrees in STEM.

"Americans have always led the way in technological innovation," said Carson. "But in order to stay competitive we need to create the next generation of entrepreneurs. This will only be possible if we improve our science, math, technology, and engineering education at all levels.

"By investing in students, teachers and workers, the America COMPETES Act will help to create jobs for Hoosiers, as well as improve our long-term future with a highly educated and well-trained workforce."

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