Senator Maggie Hassan on Federal R&D Investment, Innovation, and Economic Growth

The Importance of Federal R&D Investment

• 💡 Federal investments in research and innovation are crucial for driving economic growth and developing breakthrough technologies.
• 🎯 The Congressional Budget Office found that these investments can actually lower the deficit in the long run by stimulating economic growth.
• 🚀 Technologies like the internet, GPS, and semiconductors all originated from initial federal investment, which the private sector then built upon.

Supporting American Innovation and Entrepreneurs

• 💰 Senator Hassan supported legislation allowing US companies to fully deduct R&D investments in the year they are made, which became law last summer.
• 🤝 This bipartisan effort aims to spur private sector innovation and help American businesses continue to innovate.

Future Technological Advancements and Workforce Development

• 🧠 The discussion will focus on how technologies like AI impact the economy and the need to support the education of young American scientists and entrepreneurs.
• 📈 A key focus is on bipartisan efforts to upskill the workforce, invest in scientists, and drive American innovation.

Witnesses and Expertise

• 🎤 The hearing features expert witnesses including Dr. Will Reinhardt on AI regulation, Mr. Nicolo Damasi on quantum computing, Mr. Evan Beard on robotics, and Ms. Ruth Whitaker on technology policy.
• 🔍 The goal is to foster discussion and collaboration on advancing American technological leadership.