Our economic expansion is lifting the lives of millions of Americans, and to keep this expansion going, we must maintain the pro-growth, low-tax policies that helped to launch it in the first place. The tax relief we delivered has helped unleash the entrepreneurial spirit of America and kept our economy the envy of the world. So I will continue to work with Congress to make that tax relief permanent.

Our economy is also thriving because America remains the world's most innovative nation. During my trip to Illinois, I visited a company called Cabot Microelectronics, which makes products for manufacturing semiconductor chips and other high-tech components. Cutting-edge firms like Cabot are creating good jobs for our workers and helping to keep America competitive in the global economy.

To help companies like Cabot maintain our nation's competitive edge, I proposed my American Competitiveness Initiative. This initiative will double federal funding for research in promising areas such as nanotechnology, supercomputing, and alternative energy sources. The initiative will also encourage bolder private sector investment in technology, and help ensure that every American child has the math and science skills needed for the jobs of tomorrow.

Last month, the House of Representatives approved full funding for the basic research component of this initiative. I urge the Senate to follow the House's lead, so America can remain an innovative nation that competes with confidence.

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