Washington, D.C. – TechNet, the national, bipartisan network of innovation economy CEOs and senior executives, today today issued the following statement, attributable to President and CEO Linda Moore, following the passage of the America COMPETES Act in the U.S. House of Representatives:

“For decades, federal spending on innovation has led to many of the technologies we use every day. Those investments were crucial to fostering U.S. innovation, creating new opportunities for countless Americans across the country, and increasing our global competitiveness.

“Today, bold action is needed to usher in a new era of exploration, invention, and opportunity in the U.S. The passage of the America COMPETES Act in the House of Representatives is a critical step toward achieving that goal and is one of the largest federal investments in innovation and workforce development in our nation’s history. Establishing regional technology hubs will create new, good-paying jobs across America, strengthen supply chains, and produce the environment necessary for the next generation of innovations to be born and launched in this country. The bill also contains funding for the CHIPS Act, which is critical to enhancing U.S. semiconductor leadership and domestic manufacturing capabilities.

“We welcome a robust and thoughtful conference process and support a strong, bipartisan competitiveness package that can pass in each Chamber. Both parties must work together to ensure American workers and businesses have the tools and resources needed to cement the U.S. as the global leader in innovation both now and into the future.”

Last year, TechNet applauded the bipartisan passage of companion legislation, the U.S. Innovation and Competition Act, in the U.S. Senate.