By Jeff Ferry, CPA Chief Economist Joe Biden is getting lots of advice from many quarters for his new administration. But last week he got...Read more
Technology is vital to a large and growing part of daily life, communications, the economy, and national defense. The US is and must remain the world’s preeminent technology leader. We must act to bring back to the US much of the technology manufacturing that has been offshored.
Semiconductors, software, wireless and wireline communications, video communications, renewable energy, and other modern technologies are essential to US security and the health of our economy. The US must support growth and innovation in our world-leading technology businesses. We must ensure continued US leadership. Our technology industry is under attack from foreign nations who engage in IP theft and cyberespionage on a daily basis. The US government must defend those companies. Foreign technology companies, especially from China, use massive government subsidies, protectionist policies, and other illegal means of furthering their own national champions, at great cost to American companies. We must counter those threats with industrial policies that ensure US research and development leads the world. We must rebuild our technology manufacturing capability. Many modern technology products are not manufactured in the US and we must address this situation with support for re-shoring technology production.