Bill from Rep. Honda seeks to boost nanotechnology

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"But one of the things I have heard from experts in the field is that while the United States is a leader in nanotechnology research, our foreign competitors are focusing more resources and effort on the commercialization of those research results than we are."

In its report, the task force made a series of recommendations for the U.S. to promote the development and commercialization of nanotechnology.

Honda's bill includes several of those recommendations including creating a public-private partnership to invest in the commercialization of nanotechnology research; creating tax credits for nanotechnology investments and education; and authorizing grant program to support nanotechnology research and startup incubators.

The bill also addresses concerns raised about whether the government is doing enough to mitigate the potential health and safety risks linked to nanotechnology.

The legislation requires the development of a strategy that resolve the uncertainty about how the federal government may regulate nanotechnology in the future.