Investment in innovation is a critical driver of economic recovery, and SBIR has a proven history of seeding innovation that creates sustainable new jobs nationwide.
Despite this, Congress is poised to cripple innovation by radically decreasing the number of SBIR-funded grants, offering ANOTHER taxpayer funded bailout of Wall Street Venture & Hedge Funds, and raiding the SBIR to expand government bureaucracy.
Congress must stand up for innovation by supporting three vital changes to the deeply flawed SBIR reauthorization bill (HR 1425):
- A 1%, revenue-neutral increase to SBIR at all agencies in FY 2012, paid for by a slight reduction in indirect costs across all grants – The most proven & effective spur to sustainable job-creation, without impacting basic research.
- Preventing a Billion Dollar bailout of Wall Street from the SBIR– No taxpayer-funded bailouts of Billionaire Wall Street Venture & Hedge Funds that will only replace private investment with public dollars and enrich wall street while stifling innovation!
- Blocking the use of SBIR funds to pay for Agency administration – No expansion of government bureaucracy on the backs of small businesses at a time when every private job matters!
Small business innovators and entrepreneurs generated 2/3 of all new science and engineering jobs in the last 15 years, a quarter of all key innovations in the last decade, and 38% of all patents filed – all with less than 4.3% of all federal R&D spending.
Sign our petition and send Congress a message: invest in small business innovators and entrepreneurs with a proven record of job creation!
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