Biden pushes for increased innovation to keep U.S. competitive
During his joint address to Congress on Wednesday evening, President Biden called for the U.S. to increase its investment in technology to keep competitive on the global stage in the decades to come.
Why it matters: Biden stressed that China and other nations are poised to overtake the U.S. in ambition and framed his American Jobs Plan as a possible solution, by increasing "non-defense research and development."
The big picture: The president noted that the U.S. currently invests less of its GDP in research and development than it did decades ago.
- He argued the U.S. must "develop and dominate the products and technologies of the future," including things such as "advanced batteries, biotechnology, computer chips and clean energy."
- Biden recommended that the National Institutes of Health should create a research branch for health.
The president noted his $1.8 trillion American Families Plan would offer increased education-focused benefits.
What he's saying: "We can’t be so busy competing with each other that we forget the competition is with the rest of the world to win the 21st Century."
- "China and other countries are closing in fast."
- "[A]ny country that out-educates us is going to outcompete us."