Vice President Pledges Administration’s Support of Technology Sector

Promising to help rejuvenate prosperity in our nation’s technology industry, Vice President Richard Cheney spoke recently at a banquet for the Northern Virginia Technology Council about the Bush administration’s commitment to tax cuts, education reform, free trade, reliable energy sources and a whole host of other technology sector concerns.

The vice president told the group of more than 900 attendees that the United States should make permanent current policies that ban Internet access taxes and encourage businesses to fund research and development efforts. In addition, he is calling on Congress to extend the moratorium on Internet sales taxes, which is set to expire in October of this year.

Currently, businesses are given a tax credit for spending on research and development projects. However, many companies have been reluctant to devote funds to such projects because the tax credit is set to expire in 2004. Cheney pledged the administration’s support to make the tax credit permanent.

In addition, Vice President Cheney spoke at length about improving math and science education in public schools to ensure a workforce with the technical skills necessary to support advancements in technology. He stated that by 2020, about 60 percent of all new jobs in this country will require skills that just 22 percent of work force currently hold.

The White House’s policies of reducing the tax burdens on American businesses, promoting a highly skilled work force and increasing free trade to open up new markets will all contribute to favorable conditions for prosperity.

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