U.S. boosts funding for nanotech innovation

August 13, 2007 — The U.S. Government has increased federal spending for research and education in a bid to boost US competitiveness in science and engineering.

“In my 2006 State of the Union address, I announced the American Competitiveness Initiative, and . . . I asked Congress to expand America’s investment in basic research, so we can support our nation’s most creative minds as they explore new frontiers in nanotechnology or supercomputing or alternative energy sources,” said President George W. Bush in a press conference on August 9, 2007 announcing that the America COMPETES bill had been signed into law.

The plan provides up to $43 billion dollars in 2008-2010 to boost innovation, and doubles the National Science Foundation’s budget for basic research in the physical sciences. It also seeks to improve math education in primary and middle schools, creates a new federal agency to promote energy projects, and earmarks money for training more high-school teachers to lead advanced courses in math, science, and foreign languages for low- income students.


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