Dispatch From Denver: Rep. Lofgren On Innovation
If Sen. Barack Obama, D-Ill., becomes the next president, Rep. Zoe Lofgren, D-Calif., believes key appointments for high-tech sector prosperity will be within the Securities and Exchange Commission. "There have been a lot of problems there," she told a technology forum in Denver on Tuesday.
A perceived failure to appropriately regulate markets has led to serious economic challenges, she said, noting that the next administration must provide relief for start-up companies and young innovators. Lofgren, who chairs the House Judiciary Subcommittee on Immigration and serves on the Subcommittee on Courts, the Internet, and Intellectual Property, also indicated that legislative changes to the Sarbanes-Oxley Act may be needed "when it comes to research-heavy start-ups."
Making permanent the federal research and development tax credit is another step in the right direction, Lofgren said. She said she hopes that when Congress returns for a short session in September, members will put forward a bipartisan legislative package that includes that provision. "The federal government too often through our policies puts our thumb on the scale on what's going to be allowed to be developed," she added.
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