By Gautham Nagesh - 01/06/12 07:48 PM EST
The report recommends federal funding for basic research be increased and the R&D tax credit for private sector companies be enhanced. It underscores the importance of education in the science, technology, engineering and mathematics or STEM fields.
“This is a topic of pivotal importance,” Commerce Secretary John Bryson said. “Our ability to innovate as a nation will determine what kind of economy — what kind of country — our children and grandchildren will inherit, and whether it’s a country that holds the same promise for them as it did for our parents and grandparents.”
The report also notes 68 percent of American households have adopted broadband and highlights the Obama administration's efforts to open up spectrum for wireless communications.