Federal Innovation Policy: The Current Context and Some Possible Changes

by Sabrina I. Pacifici on September 30, 2013

“CBO Director Doug Elmendorf spoke on September 30, 2013 at a conference on “Federal Tax Policy and Entrepreneurship” sponsored by the Kauffman Foundation and hosted by the Tax Policy Center at the Brookings Institution. [His] presentation explored a wide array of possible changes in federal policy that might bolster innovation, including increased spending on research and development, increased support for education, lower taxes on private investment, greater immigration of skilled workers, patent reform, and adjustments to regulatory policies. That presentation was an update to a previous presentation [he] gave earlier this year—in particular, the numbers have been updated to reflect CBO’s most recent budget data and projections, and the slides include new data on patenting activity released by the U.S. Patent and Trademark Office. Given the focus of the conference, [he] also included a few new slides on how policies focused on encouraging innovation relate to entrepreneurship and to small, innovative firms.”

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