The nation that wins the global tech race will dominate the 21st century.
This has been true since the 1800s.
Given the rapid pace of innovation and tech's impact on our economy and defense capabilities in the last decade, there is ample evidence to suggest that the need for investment in tech research and development has never been greater. China has been closing the tech gap in recent years by making bold investments in tech with the intent of overtaking the U.S. This is a tech war we cannot afford to lose.
It's imperative that Congress pass the Endless Frontier Act and authorize the biggest R&D tech investment in the U.S. since the Apollo years.
Rep. Ro Khanna, D-Calif., made a massive increase in science and technology investment a major part of his platform while campaigning for a seat in Congress in 2016. Now the co-author of the 600-page legislation is on the cusp of pushing through a bipartisan effort that has been years in the making. Khanna and his co-authors, Senate Majority Leader Chuck Schumer, D-N.Y., Sen. Todd Young, R-Ind., and Rep. Mike Gallagher, R-Wis., are shepherding the bill through the Senate, which is expected to approve it sometime later this month. That would set up a reconciliation debate between the House and Senate that would determine the bill's final language.
The ultimate size of the investment is still very much up in the air.
Khanna would like Congress to authorize $100 billion over a five-year period for critical advancements in artificial intelligence, biotechnology, cybersecurity, semiconductors and other cutting-edge technologies.
The Senate is talking of knocking that number down to $50 billion or $75 billion.