Vice
President Pledges Administrations Support of Technology Sector
Promising
to help rejuvenate prosperity in our nations technology industry,
Vice President Richard Cheney spoke recently at a banquet for the
Northern Virginia Technology Council about the Bush administrations
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 administrations 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 Houses 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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