As featured in the Oklahoman newspaper

By Dave McCurdy

America has always taken great pride in being the most innovative and competitive country in the world. The problem is, the United States now ranks sixth. A recent World Economic Forum report ranked the U.S. behind Switzerland, Finland, Sweden, Denmark and Singapore. The Electronic Industries Alliance, which represents much of the high-tech industry, began promoting a bipartisan national strategy on innovation and global competitiveness nearly four years ago. Our country's leadership has responded in the form of the president's call for an American Competitiveness Initiative and numerous bipartisan bills introduced in Congress addressing the ACI goals and other areas important to U.S. competitiveness.

Among the most important pieces of legislation this Congress can still pass this year are the Science, Commerce, Justice & State Act and the Energy Appropriations Act. These bills will mark the first step in increased investment in the physical sciences in key federal basic research offices. Passing this legislation will double the amount of money we spend in basic physical science research, which is crucial if Congress wants to keep the United States competitive in a global economy.

Two other keys to the competitiveness agenda are the seamless extension and enhancement of the research and development tax credit and reform for highly skilled worker visas and green cards.

Since 1981, the R&D tax credit has helped companies take on the risk of research and development work that might not otherwise be feasible. But the uncertain nature of the credit 10 months after its lapse and the failure to enact broadly supported provisions that make it more widely available threaten to undermine innovative research in our country. Legislators on both sides of the aisle say extension of the credit is on the to-do list. This month, it must be moved to the "done" column.

Ensuring U.S. employers have access to highly skilled workers also is paramount to fostering an innovative and competitive culture in America. Employment-based programs and our world-class university system have brought tremendous foreign talent to our country, spurring innovation and the economy. We need to be able to recruit and keep those workers here through the reforms introduced in legislation such as the SKIL Act, by Senator John Cornyn, R-Texas, and Rep. John Shadegg, R-Ariz.

In late September, Senate leaders Bill Frist and Harry Reid introduced the National Competitiveness Investment Act. This act highlights many of EIA's recommendations, including summer programs and financial incentives that will strengthen the skills of K-12 science, technology, engineering and math teachers; increased funding for the Manufacturing Extension Partnership, and a grant program for research in advanced information and communications technology.

A national innovation vision and strategy as outlined above is an excellent base upon which to build a strengthened U.S. innovation economy that will continue to create high-skilled, high-paid jobs and foster continued entrepreneurship and groundbreaking scientific discovery.

There is no magic bullet that will do all of this, but congressional passage of key legislation in the final days or weeks of this year's session is a crucial start.

McCurdy is president and CEO of the Electronic Industries Alliance in Washington, D.C. He served as Oklahoma's 4th District congressman from 1981 to 1995.