The "PACE Act" will implement 20 recommendations contained in the National Academies of Science and Engineering report, "Rising Above the Gathering Storm," released last October. The National Academies warned that "the scientific and technical building blocks of our economic leadership are eroding at a time when many other nations are gathering strength." According to the report, "because other nations have the competitive advantage of a low-wage structure, the United States must compete by optimizing its knowledge-based resources, particularly in science and technology."
Provisions in the bills include: doubling federal funding for basic research; competitive, merit-based scholarships for future math and science teachers; visa reform for foreign science and math students; and an extension of the research and development tax credit.
In a letter commending Sens. Domenici, Bingaman, Alexander and Mikulski for introducing the "PACE Act," IEEE-USA President Ralph W. Wyndrum, Jr. states: "With the PACE package, we are encouraged to see Congress not only solicit the advice of the engineering and science community, but also to adapt that advice into a comprehensive legislative initiative. IEEE-USA believes technological leadership is one of the most important issues facing our country today, and as such, we urge the Senate, the House of Representatives, and the Bush administration to act on this package during this session of Congress."
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