U.S. Sen. Todd Young (R-IN) this week introduced bipartisan, bicameral legislation that would increase federal investments in the discovery, creation and commercialization of future technology fields.
Sen. Young and U.S. Senate Democratic Leader Chuck Schumer (D-NY) and U.S. Reps. Ro Khanna (D-CA) and Mike Gallagher (R-WI) on May 27 introduced the Endless Frontier Act in their chambers.
“Without a significant increase in investment in fundamental scientific research, education and training, technology transfer and entrepreneurship, and the broader U.S. innovation ecosystem across the nation, it is only a matter of time before America’s global competitors catch-up and overtake the U.S. in terms of technological primacy,” according to a bill summary provided by Sen. Young’s office. “Whichever country wins the race in key technologies — such as artificial intelligence, quantum computing, advanced communications, and advanced manufacturing — will be the superpower of the future.”
Sen. Young pointed out that because China has been the first country to emerge on the other side of the COVID-19 pandemic, the Chinese Communist Party now is working to use the crisis to its advantage by extending influence over the global economy.
“The spread of the coronavirus around the world has heightened the public’s awareness of the deep connections and serious vulnerabilities that shape our lives in the 21st century,” said Sen. Young. “Instead of allowing Beijing to threaten our values and interests, now is the time for America to invest in ourselves and give the world a clear alternative.”
As America emerges from the pandemic, Sen. Young said the nation “must not be content with merely recovering our losses. Instead, we must position ourselves to lead and the Endless Frontier Act is the way to do it.”
If enacted, the Endless Frontier Act would expand the National Science Foundation (NSF) and rename it as the National Science and Technology Foundation (NTSF), according to the bill summary.
Additionally, the bill would establish a Technology Directorate within NTSF that would receive $100 billion over five years to lead investment and research in 10 focus areas, including artificial intelligence and machine learning; high-performance computing; robotics, automation and advanced manufacturing; and cybersecurity, among others.
An additional $10 billion would be authorized under the proposed bill to designate at least 10 regional technology hubs, awarding funds for comprehensive investment initiatives that position regions across the country to be global centers for the research, development and manufacturing of key technologies, according to Sen. Young’s summary.