I move to lay that motion on the table. The motion to lay on the table was agreed to. Amendment No. 243 Mr. President, I send modified amendment numbered 288 to the desk for immediate consideration. Mr. President, this amendment is on…
I move to lay that motion on the table.
The motion to lay on the table was agreed to.
Amendment No. 243
Mr. President, I send modified amendment numbered 288 to the desk for immediate consideration.
Mr. President, this amendment is on behalf of Senator DeWine, myself, Senator Lieberman, and others. We have lost 2.8 million manufacturing jobs in this country in the last 4 years. We have a very modest program called the Advanced Technology Program, which, according to the Department of Commerce, in their publication, which I would be happy to share with those who can come to take a look at it, according to the Department of Commerce, this program has had a result eight times more in technologies developed than the amount of money we have put into the program. It is an eight-time return--multiple--in advanced technologies which is achieved when the Department of Commerce partners with industry.
This is now a sense of the Senate.
Mr. President, for the second year in a row, the President proposes to completely eliminate the Advanced Technology Program, ATP. Last year, Congress wisely chose to
fund the ATP program at $142.3 million. The bottom line is that the ATP promotes the development of new, innovative products that are made and developed in the United States, helping American companies compete against their foreign competitors and contribute to the growth of the U.S. economy.
I hope Congress will continue to fund this important program in fiscal year 2006. Doing so will help strengthen the technological and economic leadership of America's high technology manufacturing companies that is necessary for them to remain competitive in today's global marketplace. It will also help ensure that the most cutting-edge companies can continue to innovate, expand and create jobs.
My amendment expresses the sense of the Senate calling on the Senate Committee on Appropriations to make every effort to restore funding for the Advanced Technology Program in fiscal year 2006.
Continued ATP funding would encourage public-private cooperation and investment in economically important technology R&D. Through a cost- shared program, the ATP provides grants to support research and development of high-tech, cutting-edge technologies with commercial potential and societal benefits. The ATP focuses on improving the competitiveness of American companies and funds many research and development projects that have the potential to create broad-based U.S. economic benefits and that otherwise may not get developed or that would be developed too slowly to take advantage of market opportunities.
According to one study, the manufacturing sector, more than any other, helps to generate increased economic activity in other industries with every dollar of goods produced generating an additional $1.43 in economic activity in other industries or sectors.
According to the U.S. Department of Commerce, returns for the American people on the ATP, as measured from 41 of the 736 projects-- just 6 percent of the portfolio--have exceeded $17 billion in economic benefits, more than eight times the amount invested in ATP.
Manufacturers' investment in innovation account for almost two-thirds of all private-sector research and development. This investment in turn leads to advances in other manufacturing sectors and spillover into nonmanufacturing activities in the United States.
ATP involvement accelerates the development and commercialization of new technologies. Time to market was reduced by 1 year in 10 percent of projects, by 2 years in 22 percent of projects, and by 3 years in 26 percent of projects.
The ATP program supports small business. Over 65 percent of ATP projects have been led by small businesses. This is exceptional given that small businesses lead in the creation of job growth and new technology advancement in our country.
ATP has received applications from 50 States and made awards to high technology businesses in 40 States plus the District of Columbia.
The Biotechnology Industry Organization, BIO, the Industrial Research Institute, the Alliance for Science and Technology Research in America, and the American Chemical Society have expressed support for ATP.
Unfortunately, current funding levels do not meet the demand for ATP. Over 1,000 proposals submitted in 2002 alone yielded enough high quality projects to absorb the total funding available in both fiscal year 2002 and fiscal year 2003. Fiscal year 2004 saw the second highest number of applications for funding in ATP history, 870, but funding was available for only 59 awards.
The ATP is one of the few Federal programs available to help American manufacturers remain competitive in the global economy. This high octane economic development engine should be supported by Democrats and Republicans alike. If we want NIST to continue making these important job-creating ATP awards, we have to fund it.
According to the Bureau of Labor Statistics, nationally we have lost nearly 2.8 million manufacturing jobs since January 2001. In the face of these losses and strong global economic competition, we should be doing all we can to promote programs that help create jobs and strengthen the technological innovation of American companies. Supporting the ATP program is one way to do this.
amendment no. 253
Mr. President, this budget, like the President's budget, reflects the wrong priorities. This budget short changes public services such as education and health care for all Americans in order to further cut taxes mainly for the wealthiest Americans. This budget resolution is starkly out of touch with the vast majority of working families in Michigan and across the United States. The American people deserve better.
To create the impression that the budget cuts the deficit in half over the next 5 years, it simply leaves out several major expenses. These omissions include the cost of the wars in Iraq and Afghanistan, the cost of the personnel added to the Army and Marines and the cost of reforming the alternative minimum tax. Leaving these costs out of the budget paints an incomplete picture of the deepening Federal deficit and the damage being done to the Nation's fiscal outlook.
If the deficit continues to expand at its current rate, by 2015, each American's share of the debt will be at least $30,000. The bigger the deficit grows, the more likely it is that we will face rising long-term interest rates and slower economic growth. This will make it more expensive to buy a house, pay for college or pay off credit card debt. This is an unfair burden to pass on to our children and grandchildren.
The President's tax cuts are a major cause of our Nation's swing from a record budget surplus into an increasingly deep deficit ditch. Yet this resolution seeks $71 billion in additional tax breaks most of which are for the wealthiest Americans. The cornerstone of these proposed tax cuts is the extension of the capital gains and dividend tax cuts. These tax cuts would overwhelmingly benefit the wealthiest among us.
Largely as a result of its reckless tax cuts, this budget would actually increase, rather than decrease, the deficit. But this budget resolution, such as the President's budget, attempts to conceal the damage it is doing to the Nation's fiscal outlook by using 5-year projections instead of the customary
10-year numbers. Hidden just beyond the 5-year budget window is the exploding cost of the tax cut proposals and its growing effect on the deficit.
I am disappointed that the Senate did not adopt the Feingold-Chafee amendment to reinstate pay-as-you-go rules that would require both entitlement spending increases and tax cuts to be fully paid for or face a 60-vote point of order in the Senate. The pay-as-you-go rule, like the one which was successful in the 1990s, would have helped restrain the deficit without unduly harming critical public services.
I am pleased that the Senate rejected severe cuts to the Medicaid Program in a crucial vote earlier today. This is a victory for the 53 million children, pregnant women, elderly and disabled who rely on Medicaid to meet their health care needs. It is also a victory for the people that make our health care delivery system work.
Still the budget plan which is before the Senate today fails to address some of our Nation's most pressing problems, such as the loss of millions of manufacturing jobs, cuts in education funding, and environmental protection.
I am also saddened that the Senate rejected an amendment to continue to protect the Arctic National Wildlife Refuge. We have a responsibility to promote a balanced energy plan that invests in America's future and protects our environment, not one that damages our protected lands. Rather than drilling in our pristine wilderness, the United States should be investing in alternative sources of power, renewable energy programs and fuel efficient automotive technology to improve fuel economy without harming our environment.
This budget slashes funding for vital programs for working families in order to extend massive and fiscally irresponsible tax cuts that significantly lower the Nation's revenue and explode the deficit. These are the wrong priorities for America. I cannot support it.