Sen. Lieberman outlines tech policy and picks up support:
- Sen. Joseph I. Lieberman (D-Conn.) outlined a technology-friendly economic program in California yesterday and picked up the endorsements of several prominent tech leaders in Silicon Valley for his presidential campaign.
The biggest catch was venture capitalist John Doerr, who has been at the forefront of Silicon Valley’s political involvement and remains close to former vice president Al Gore. Doerr told reporters in a conference call that Lieberman, more than his rivals for the Democratic nomination, “gets it” when it comes to the needs of the technology industry.
Today, Lieberman expects to pick up the endorsement of Lt. Gov. Cruz Bustamante, California’s highest-ranking Latino official.
Lieberman’s economic package, which he announced in San Diego, appeared tailor-made to attract support in the technology industry. He said his proposals would significantly boost the long-term growth of the economy.
The package includes an investment tax credit of 20 percent for companies that buy new technology equipment and would wipe out capital gains taxes on new investments in small firms. Lieberman also said he supports “broadly shared” stock option plans, something technology companies want to preserve after corporate stock options abuses. [Washington Post]
Here are main elements of the plan from Lieberman’s campaign site:
- Major components of the plan include:
LAY THE FOUNDATION FOR NEW HIGH-WAGE JOBS
The plan would provide an Investment Tax Credit of 20 percent to encourage companies to purchase new information technology; eliminate capital gains taxes for new investments in small companies; double funding for the National Science Foundation to encourage research and development, make permanent the R&D tax credit; renew America’s commitment to free trade; promote broadly shared stock option plans; and restore fiscal discipline to the federal budget.
CREATE WORKFORCE OF THE FUTURE
Lieberman’s proposal would equip our people with the skills they need to make sure the high-wage, high-tech jobs of the future are filled right here in America. It would fully fund the “Tech Talent” law, which Lieberman helped author, to increase the number science and engineering graduates; and invest in learning technologies at the K-12 level.
MAKE AMERICA THE WORLD’S LEADER IN INNOVATION
Lieberman’s plan would accelerate the deployment of broadband Internet service, which has the potential to spark an economic surge; revitalize America’s semiconductor manufacturing, which has seen jobs shift offshore in recent years without any response by the Bush Administration; and promote an “e-society” to revolutionize health care, education, environmental protection, and other areas.
FIGHT KEY BATTLES WITH TECHNOLOGICAL TOOLS
Lieberman also cited proposals he has put forward recently to apply America’s innovation strength to some of society’s most persistent challenges, including his proposals for an American Center for Cures, protecting America for terrorist attacks, and achieving energy independence.
Lieberman concluded, “We cannot know how many exciting and life-transforming inventions and creations will result from a sustained, national effort to unleash the innovative capacity of all our people. We cannot even imagine the kinds of jobs we may one day create, or the fundamental ways we may change the look and feel of our homes, our cars, our neighborhoods, or our nation.”
And here is his “tech record“:
- Recognized Leader. Joe Lieberman is the only presidential candidate who has earned a 100 percent lifetime rating from the Information Technology Industry Council. He received the Founders Circle Award from TechNet, a leading tech industry group, for his leadership on tech issues.
Advancing High-Tech Economic Stimulus. Joe Lieberman has proposed a short-term recovery plan to spur business investment and innovation. His plan includes a short-term Investment Tax Credit for acquisition of information technology to spur productivity, a New Jobs Tax Credit to give companies that hire additional employees a payroll tax credit, and incentives to stimulate private-sector development of the next-generation Internet and nanotechnology industry.
Encourage Innovation and Employee Ownership. Joe Lieberman has authored a plan to broaden the distribution of stock options among rank and file workers, and has defended the role of stock options in helping the economy expand by opposing proposed accounting rules that would discourage their use and put options out of reach for middle-class workers. To encourage innovation, he has supported elimination of capital gains taxes for long-term investments in entrepreneurial firms, and supported limits on some securities and biomaterials lawsuits.
Helping Grow and Attract High-Tech Talent. Joe Lieberman authored the Tech Talent law, which will spur American universities to increase their math and science graduates to help fill a critical gap in the national labor pool, and he supported an increase in the number of H1-B visas to ensure that the tech sector has the workers it needs in the short term to increase productivity.
Expanding Access to New Markets. Joe Lieberman strongly supported trade promotion authority to expand access for U.S. goods to foreign markets, as well as legislation to normalize trade relations with Vietnam and China. He also worked to provide the strongest-ever assistance to workers who are displaced from their jobs as a result of trade agreements and triple funding for Trade Adjustment Assistance programs.
Promoting The Cutting Edge. Joe Lieberman called for a new national broadband policy, pointing to its vast potential to stimulate economic growth and improve our quality of life. He has authored measures to accelerate the development of nanotechnology and to stimulate private sector development of new medicines, vaccines, and antidotes to protect against biological attacks. He has advocated a stronger federal investment in scientific research and development, and has supported efforts to make permanent the research and development tax credit.
Bring the Federal Government Online. Joe Lieberman authored and passed a historic law to make the federal government more helpful and responsive to taxpayers by bringing more government services online. The law he authored establishes an office of Electronic Government to implement e-government initiatives.