    [Public Papers of the Presidents of the United States: George W. Bush (2006, Book I)]
    [February 4, 2006]
    [Pages 193-194]
    [From the U.S. Government Publishing Office www.gpo.gov]

    The President's Radio Address
    February 4, 2006

        Good morning. This week in the State of the Union Address, I set
    forth my American Competitiveness Initiative. This plan will help our
    Nation to compete with confidence, raise the standard of living for our
    families, and generate new jobs for our citizens.
        Generations of risk takers, inventors, and visionaries have made
    America the world's most prosperous and innovative nation. Just 25 years
    ago, most Americans used typewriters instead of computers, rotary phones
    instead of cell phones, and bank tellers instead of ATMs. Today, America
    is at the doorstep of even more technological advances. But we cannot
    afford to be complacent. We're seeing the rise of new competitors like
    China and India, who are making great strides in technology. In
    response, some people want to wall off our economy
    from the world. That is called protectionism. The American people should
    not fear our economic future because we intend to shape our economic
    future.

        To keep America the world's most competitive and innovative nation,
    we must continue to lead the world in human talent and creativity. My
    American Competitiveness Initiative will encourage innovation throughout
    our economy and give American children a firm grounding in math and
    science.

        This initiative has three key elements. The first element is to
    double the Federal commitment to the most critical basic research
    programs in the physical sciences over the next decade. Most of the
    technological advances we enjoy today are the fruits of research
    investments made years ago, and many of these advances benefited from
    Government support. The increased

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    funding I have proposed will support America's creative minds as they
    explore promising areas such as nanotechnology, supercomputing, and
    alternative energy sources. These investments will lead to new
    inventions that offer better choices for consumers and a better life for
    our citizens.
        The second element of this new initiative is to encourage bolder
    private sector investment in technology, because the private sector
    remains America's greatest engine of innovation. The research and
    development tax credit gives businesses an incentive to invest in
    projects that could lead to new discoveries. Congress allowed this tax
    credit to expire at the end of 2005, and the House and Senate are now
    considering another temporary extension. But a temporary extension does
    not allow our innovators to plan and invest with certainty. Other
    countries offer permanent tax incentives for research and development.
    To keep America the world's leader in technology and innovation,
    Congress needs to make the tax credit for research and development
    permanent.
        The third element of this initiative is to make sure our children
    learn the skills they will need to keep America the world's most
    innovative country. Math and science are critical to many of our
    country's fastest-growing industries, so we must encourage our children
    to take more math and science classes and make sure those classes are
    rigorous enough to compete with other nations. I'm proposing that we
    train 70,000 high school teachers to lead Advanced Placement courses in
    math and science, bring 30,000 math and science professionals to teach
    in classrooms, and give early help to students who struggle with math so
    they have a better chance at good, high-wage jobs. If we ensure that
    America's children succeed in life, they will ensure that America
    succeeds in the world.
        The American Competitiveness Initiative will help our Nation remain
    the world's economic leader. By investing in research and development,
    unleashing the innovative spirit of America's entrepreneurs, and making
    sure that our economy has workers highly skilled in math and science, we
    will lay the foundation for lasting economic prosperity.
        Thank you for listening.

    Note: The address was recorded at 10:20 a.m. on February 3 at the
    Marriott Hotel Albuquerque in Albuquerque, NM, for broadcast at 10:06
    a.m. on February 4. The transcript was made available by the Office of
    the Press Secretary on February 3 but was embargoed for release until
    the broadcast. The Office of the Press Secretary also released a Spanish
    language transcript of this address.