America’s economic growth and international competitiveness depend on our ability to innovate. President Obama believes that we will create the jobs and industries of the future and restore middle class security by doing what America does best – investing in the creativity and imagination of our people. We must out-innovate, out-educate, and out-build the rest of the world to ensure that our nation achieves rapid, sustained and broad-based economic growth.
President Obama is committed to helping America’s small businesses grow and prosper. Small businesses are the engines of job creation and essential to strengthening our national economy. That’s why he has cut taxes for small businesses and helped them get access to the capital they need to expand and create the jobs we need now and for decades to come. And that’s why the American Jobs Act provides tax relief for every small business, rewards for those that hire and invest and includes new measures to cut red tape and ease access to capital.
President Obama set a goal of doubling America’s exports within five years and his Administration is taking steps to do just that: getting Congress to pass three critical trade agreements, expanding loans to exporters, preserving the free flow of information on the Internet and promoting American manufacturing. And he is working to make America the best place for people to do business, by reforming our patent system, improving our infrastructure, and investing in our workers.
To restore security to the middle class and create an economy built to last – that creates the jobs of the future and makes things the rest of the world buys -we have to out-innovate the competition. But to win that competition, American companies must be able to take their ideas to market quickly without the constraints of undue regulation and costs. That’s why President Obama has directed his Administration to reduce barriers to American business success, including reforming our patent system, reviewing federal regulations, and promoting trade.
President Obama knows that today’s entrepreneurs are tomorrow’s Fortune 500 companies and exemplify America’s competitive edge in ingenuity and innovation. That is why the President has tasked his administration with crafting policies that eliminate barriers to startup formation, drive investment to the best ideas, and accelerate the growth of young companies in the marketplace.
( White House)