America COMPETES Act: Programs, Funding, and Selected Issues [Updated February 8, 2008] [open pdf - 799KB]
From the Summary: "On August 2, 2007, Congress passed the America COMPETES Act (H.R. 2272), which the President signed into law (P.L. [Public Law] 110-69) on August 9, 2007. The act responds to concerns that the United States may not be able to compete economically with other nations in the future due to insufficient investment today in science and technology research and science, technology, engineering, and mathematics (STEM) education and workforce development. A similar concern had led President Bush to announce the American Competitiveness Initiative (ACI) in January 2006 during his State of the Union address. […] At the heart of the America COMPETES Act is the goal of maintaining the United States as the leader in the global economy. Three broad trends influence today's globalization of the economy. The first is technology, which has sharply reduced the cost of communication and transportation that previously divided markets. The second is a dramatic increase in the world supply of labor producing goods and services traded internationally. The third is government policies that have reduced barriers to trade and investment. As Congress deliberates the FY2009 budget, the programs authorized by the America COMPETES Act will likely be considered during the appropriations process. Unlike the previous fiscal year, Congress has now authorized the America COMPETES Act programs. How the act is funded and the programs implemented remains to be determined as the second session of the 110th Congress proceeds."
CRS Report for Congress, RL34328