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HP Supports Competitiveness
Initiative
Announced in State of the Union
Statement by John Hassell, HP Director of Federal Government Affairs
Released January 31, 2006
"HP applauds President Bush’s commitment to American
innovation through the introduction of the ‘American
Competitiveness Initiative.’ The Initiative promotes
America’s priorities for sustaining our global competitiveness by
boosting research and development funding, making permanent
an enhanced R&D tax credit, investing in math and science
education, and developing a well-trained workforce for the 21st
Century. For Democrats and Republicans, this must be a
legislative priority, not a campaign promise.
“HP knows first hand that policymakers must tackle the
challenges to educating, training and retaining thousands of
highly skilled workers to meet the needs of today and tomorrow
in a globally competitive environment. With the President using
his bully pulpit at the State of the Union to raise awareness to
this looming threat to the nation’s economic security, HP is
hopeful lawmakers will work toward implementing sound
policies to invest in America’s innovation leadership.
“As Congress moves forward on its ‘Competitiveness
Agenda,’ HP will work with lawmakers from both parties to
ensure two much-needed priorities become law to keep America
on the cutting-edge:
- Expand and make permanent the Research &
Development Tax Credit (through the Tax
Reconciliation bill) to spur continued private
sector investments in innovative solutions. The
President’s call for investing $146 billion over 10 years
to extend the R&D Tax Credit and an additional $900
million for specific research programs funded by the
National Science Foundation, Department of Energy,
and Department of Commerce are positive steps to
advance America’s innovation agenda and restore our
nation’s R&D commitment.
- Attract, educate, and employ more American
students in the STEM fields of science, technology, engineering and mathematics. The
President’s pledge of an enhanced federal commitment,
including a proposed $380 million to these innovative
areas of study, will help advance what’s currently being
done in the private sector. As a company currently
investing significant capital in education and university
programs, HP knows that the more we enable our
scientists and engineers to innovate, the more America
can retain its competitive advantage in high tech and
other sectors around the globe."
About HP
HP is a technology solutions provider to consumers, businesses and institutions globally. The
company’s offerings span IT infrastructure, global services, business and home computing,
and imaging and printing. For the four fiscal quarters ended Jan. 31, 2006, HP revenue
totaled $87.9 billion. More information about HP (NYSE, Nasdaq: HPQ) is available at http://www.hp.com.
© 2006 Hewlett-Packard Development Company, L.P.
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