Statement of President Joe Biden on Senate Passage of the U.S. Innovation and Competition Act
I applaud the United States Senate — led by the dedicated efforts of Majority Leader Schumer and Senators Todd Young, Maria Cantwell, and Roger Wicker — for coming together to pass the U.S. Innovation and Competition Act. This legislation addresses key elements that were included in my American Jobs Plan, and I am encouraged by this bipartisan effort to advance those elements separately through this bill.
It is long past time that we invest in American workers and American innovation. Along with the American Jobs Plan, the U.S. Innovation and Competition Act would make generational investments in research and development and advanced manufacturing to help us grow critical industries and win the jobs of the future. It will empower us to discover, build, and enhance tomorrow’s most vital technologies — from artificial intelligence, to computer chips, to the lithium batteries used in smart devices and electric vehicles — right here in the United States. By strengthening our innovation infrastructure, we can lay the foundation for the next generation of American jobs and American leadership in manufacturing and technology.
We are in a competition to win the 21st century, and the starting gun has gone off. As other countries continue to invest in their own research and development, we cannot risk falling behind. America must maintain its position as the most innovative and productive nation on Earth. I look forward to working with the House of Representatives on this important bipartisan legislation, and I look forward to signing it into law as soon as possible.
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