Published: June 30, 2010
Washington, D.C.- Business Roundtable today praised the Senate Committee on Appropriations for approving supplemental funding for science and engineering research and math and science education.
“We are grateful to Senators Byrd, Cochran, Dorgan, Domenici, Mikulski, Shelby, Durbin and Alexander for their leadership,” said John Castellani, president of Business Roundtable. “Their efforts to strengthen science and engineering research and math and science education will improve U.S. economic performance and better prepare U.S. students for an increasingly competitive and technology-intensive work environment.”
The Fiscal Year 2008 consolidated appropriations bill reported out of committee today includes $200 million for science and engineering research and math and science education at the National Science Foundation, and $100 million for science and engineering research at the Office of Science in the Department of Energy.
Business Roundtable continues to lead the U.S. business community’s efforts to promote enhanced U.S. competitiveness. In July 2005, the Roundtable joined with 15 other leading business associations to form the “Tapping America’s Potential” coalition and has, since that time, met with policymakers at all levels of government to urge for full funding of programs designed to boost U.S. innovation leadership.
Business Roundtable is an association of chief executive officers of leading U.S. companies with nearly $6 trillion in annual revenues and more than 12 million employees. Member companies comprise nearly a third of the total value of the U.S. stock markets and pay more than 60 percent of all corporate income taxes paid to the federal government. Annually, they pay more than $167 billion in dividends to shareholders and the economy.
Business Roundtable companies give more than $7 billion a year in combined charitable contributions, representing nearly 60 percent of total corporate giving. They are technology innovation leaders, with more than $111 billion in annual research and development spending – nearly half of all total private R&D spending in the U.S.