[Congressional Record Volume 156, Number 168 (Friday, December 17, 2010)]
[Senate]
[Pages S10451-S10452]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]
AMERICA COMPETES REAUTHORIZATION ACT OF 2010
Mr. BINGAMAN. Mr. President, as if in legislative session and morning
business, I ask unanimous consent that the Commerce Committee be
discharged from further consideration of H.R. 5116 and the Senate
proceed to its immediate consideration.
The PRESIDING OFFICER. Without objection, it is so ordered.
The clerk will report the bill by title.
The assistant legislative clerk read as follows:
A bill (H.R. 5116) to invest in innovation through research
and development, to improve the competitiveness of the United
States, and for other purposes.
There being no objection, the Senate proceeded to consider the bill.
Mr. BROWN of Massachusetts. Mr. President, I rise today in strong
support of the reauthorization of the America COMPETES Act, which
passed the Senate today. I have heard from a broad coalition of
universities, businesses, and educators in my home state of
Massachusetts about the positive impact of the COMPETES Act on our
economy. I have listened closely to my constituents' concerns and have
concluded that reauthorization of this legislation is absolutely
necessary to the long-term economic health of Massachusetts and the
United States as a whole. To continue to lead in the 21st century, we
must make sure that the United States has the most competitive economy
and education system in the world. The COMPETES Act goes a long way to
achieving that end, and I am proud to be a cosponsor of today's
legislation.
This bill reauthorizes Federal funding to support science,
technology, engineering, and mathematics research. The original
COMPETES bill was enacted with strong bipartisan support in 2007 and
was based upon the recommendations contained in the National Academies'
report, ``Rising Above the Gathering Storm.'' That report correctly
stated that:
Having reviewed trends in the United States and abroad, the
[National Academies] is deeply concerned that the scientific
and technological building blocks critical to our economic
leadership are eroding at a time when many other nations are
gathering strength. We strongly believe that a worldwide
strengthening will benefit the world's economy--particularly
in the creation of jobs in countries that are far less well-
off than the United States. But we are worried about the
future prosperity of the United States. Although many people
assume that the United States will always be a world leader
in science and technology, this may not continue to be the
case inasmuch as great minds and ideas exist throughout the
world. We fear the abruptness with which a lead in science
and technology can be lost--and the difficulty of recovering
a lead once lost, if indeed it can be regained at all.
The fears of the authors of ``Rising Above the Gathering Storm'' are
as relevant today as they were prior to the original authorization of
COMPETES. We must keep our foot on the gas pedal if we want to win the
global race for jobs, economic growth, and new opportunities for our
children and grandchildren.
Massachusetts is an innovation-driven economy and has significantly
benefitted from the COMPETES Act. A 2009 independent study by the
Massachusetts Institute of Technology, MIT, found that Massachusetts is
home to nearly 7,000 companies founded by MIT alumni. These types of
companies exist in part because of the federal research funding that
the COMPETES Act provides to universities like MIT. According to the
study, those 7,000 businesses have created nearly one million jobs in
my State, generating $164 billion in worldwide sales, 26 percent of the
total sales dollars of all Massachusetts companies. I know that many of
my Senate colleagues hail from States with similar success stories.
Many of the jobs that stem from the COMPETES Act funding are in
export-intensive sectors, such as my State's world-class semiconductor
industry. I agree with President Obama that we must double U.S. exports
in 5 years. But we can only achieve this worthwhile goal if we
encourage students and leading thinkers to make our industries cutting
edge so that the worldwide demand for our products grows significantly.
Only then will we have sustained economic growth and get our country
moving again.
Since arriving in the Senate I have carefully scrutinized every bill
with our Nation's fiscal concerns in mind. The compromise struck in
this reauthorization recognizes the fiscal climate of today while still
making meaningful investments in our future. For example, the bill
sunsets nine programs, eliminates several other duplicative programs,
and includes an authorization level that is only half of the House's
proposal.
I urge my colleagues in the House of Representatives to join in
supporting passage of the America COMPETES Act.
Mr. BINGAMAN. Mr. President, I ask unanimous consent that the
Rockefeller-Hutchison substitute amendment, which is at the desk, be
agreed to, the bill, as amended, be read a third time, and that a
budget pay-go statement be read.
[[Page S10452]]
The PRESIDING OFFICER. Without objection, it is so ordered.
The amendment (No. 4843) was agreed to.
(The amendment is printed in today's Record under ``Text of
Amendments.'')
The amendment was ordered to be engrossed, and the bill to be read a
third time.
The bill was read the third time.
The PRESIDING OFFICER. The pay-go statement will be read.
The assistant legislative clerk read as follows:
Mr. Conrad: This is the Statement of Budgetary Effects of
PAYGO Legislation for H.R. 5116, as amended.
Total Budgetary Effects of H.R. 5116 for the 5-year
statutory PAYGO Scorecard: $0.
Total Budgetary Effects of H.R. 5116 for the 10-year
statutory PAYGO Scorecard: $0.
Also submitted for the Record as part of this statement is
a table prepared by the Congressional Budget Office, which
provides additional information on the budgetary effects of
this Act, as follows:
CBO ESTIMATE OF THE STATUTORY PAY-AS-YOU-GO EFFECTS FOR H.R. 5116, THE AMERICA COMPETES REAUTHORIZATION ACT OF
2010 (S:\ WPSHR\LEGCNSL\XYWRITE\-SCI10\3605ASAM.9), TRANSMITTED TO CBO ON DECEMBER 17, 2010 BY THE SENATE
COMMITTEE ON COMMERCE, SCIENCE, AND TRANSPORTATION
----------------------------------------------------------------------------------------------------------------
By fiscal year in millions of dollars--
-------------------------------------------------------------------------
2011- 2011-
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2015 2020
----------------------------------------------------------------------------------------------------------------
Net Increase or Decrease (-) in the Deficit
Statutory Pay-As-You-Go Impact........ 0 0 0 0 0 0 0 0 0 0 0 0
----------------------------------------------------------------------------------------------------------------
Note: H.R. 5116 would authorize appropriations for several agencies to support scientific research, industrial
innovation, and certain educational activities. The legislation would allow for the collection of fees to
offset the administrative costs of a loan guarantee program directed toward small- and medium-sized
businesses. CBO estimates that there is no net budgetary impact in a single year.
Source: Congressional Budget Office and Joint Committee on Taxation.
Mr. BINGAMAN. Mr. President, I ask unanimous consent that the bill be
passed, the motion to reconsider be laid upon the table, with no
intervening action or debate, and any statements related to the bill be
printed in the Record.
The PRESIDING OFFICER. Without objection, it is so ordered.
The bill (H.R. 5116), as amended, was passed.
____________________