On January 4, 2011, President Barack Obama signed into law the America COMPETES Reauthorization Act of 2010 (COMPETES). Section 604 of COMPETES mandates that the Secretary of Commerce complete a study that addresses the economic competitiveness and innovative capacity of the United States. Congress directed that this report address a diverse array of topics and policy options, including tax policy; the general business climate in the U.S.; regional issues such as the role of state and local governments in higher education; barriers to setting up new firms; trade policy, including export promotion;the effectiveness of federal research and development policy; intellectual property regimes in the U.S. and abroad; the health of the manufacturing sector; and science and technology education.
Source: U.S. Department of Commerce
