To direct the President to submit to Congress a national strategy on economic competitiveness and technological leadership, and for other purposes.
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Committee
Latest Action · August 6, 2024
Referred to the Committee on Foreign Affairs, and in addition to the Committees on the Judiciary, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
This bill requires the President to develop and submit a comprehensive national strategy on economic competitiveness and technological leadership to Congress within 18 months, with updates every three years thereafter. The strategy must address how the United States can maintain global leadership in emerging technologies, establish international standards, strengthen supply chain resilience, protect intellectual property, and counter competition from non-democratic countries and non-market economies. The President must consult with academia, businesses, unions, state and local governments, and other stakeholders when developing the strategy, and may delegate the task to a federal agency head. The bill also requires the President to provide annual progress updates to Congress between strategy submissions and to include recommendations on what investments, authorities, and policies Congress should adopt to support American technological leadership. No specific funding amount is authorized in the legislation, though it directs the President to use existing federal resources and capabilities to implement the strategy.
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