“Competing in the Next Economy: Innovating in an Age of Disruption and Discontinuity” Sets the Competitiveness Agenda for the Incoming Administration and Congress
Washington, D.C., December 3, 2024 — The Council on Competitiveness — the nation’s leading nonpartisan advocate for enhancing U.S. productivity and prosperity for all Americans — released its next major policy recommendations from its National Commission on Innovation and Competitiveness Frontiers, equipping the incoming administration and the 119th Congress with key priorities for rapidly increasing U.S. productivity and prosperity.
The Hon. Deborah Wince-Smith, President and CEO of the Council, on behalf of more than 60 National Commissioners, released the Call to Action at the Council’s National Competitiveness Forum in Washington, DC.
"The country is at a critical juncture, influenced by the rapid disruptions and discontinuity of shifting technological, social, political, and national security forces," stated Ms. Wince-Smith. "The Council on Competitiveness issued its Call to Action to inform the innovation agenda for the incoming President Trump Administration and 119th Congress, to maintain the United States' position as the global innovation pacesetter."
The Call to Action, part of the broader report titled Competing in the Next Economy: Innovating in the Age of Disruption and Discontinuity, arrives at a critical juncture as the United States navigates significant challenges and opportunities in amid rapid technological and geopolitical shifts. With sweeping changes to the U.S. economic and security landscape due to rapid AI adoption, energy demand, and workforce transformation, the National Commission’s Call to Action outlines a renewed vision for U.S. competitiveness in the context of heightened global competition.
The strategic Call to Action to achieve a tenfold — 10x — increase in American innovation. The report is organized into three sections:
1. The Seven 10x Pillars for Driving U.S. Productivity, National Security, and Prosperity:
- Pillar 1: Renewing 10x the Nation’s Strategic Vision for an Age of Technological Revolution and Geo-Strategic Challenge
- Pillar 2: Unleashing 10x the Most Competitive Business Climate for Innovation
- Pillar 3: Asserting 10x U.S. Global Leadership
- Pillar 4: Expanding 10x the Transition to Energy Abundance, Security, and Sustainability
- Pillar 5: Accelerating 10x Technology Development and Deployment at Speed and Scale
- Pillar 6: Empowering 10x Skilled Workforce
- Pillar 7: Expanding 10x Place-Making Innovation and Collaborative Innovation Networks
2. The Seven Priority Recommendations for Accelerating U.S. Innovation: These recommendations target vital barriers that hinder progress and highlight openings for transformative actions, including:
- Establish a pro-growth, competitive corporate tax rate of 21 percent or lower, and reduce the federal deficit to 3.7 percent of GDP by 2027.
- Increase U.S. R&D investment to 1960s levels of two percent of U.S. GDP.
- Remove barriers and create incentives to accelerate technology deployment and domestic manufacturing at scale.
- Launch an advanced Nuclear Energy Moonshot to achieve energy abundance, security, and sustainability.
- Establish a National Bipartisan Commission on AI to lead exponential technology convergence.
- Build regional innovative ecosystems, and expand the science and technology talent pipeline.
- Advance U.S. technology statecraft.
3. A comprehensive list of 55 actionable recommendations: These align with our 10x vision, serving as a roadmap for stakeholders to drive change collectively.
About the Council on Competitiveness
For nearly four decades, the Council on Competitiveness (Council) has championed a competitiveness agenda for the United States to attract investment and talent and spur the commercialization of new ideas. While the players may have changed since its founding in 1986, the mission remains as vital as ever—to enhance U.S. productivity and raise the standard of living for all Americans.
The members of the Council—CEOs, university presidents, labor leaders and national lab directors—represent a powerful, nonpartisan voice that sets aside politics and seeks results. By providing real-world perspective to policymakers, the Council’s private sector network makes an impact on decision-making across a broad spectrum of issues—from the cutting-edge of science and technology, to the democratization of innovation, to the shift from energy weakness to strength that supports the growing renaissance in U.S. manufacturing. The Council firmly believes that with the right policies, the strengths and potential of the U.S. economy far outweigh the current challenges the nation faces on the path to higher growth and greater opportunity for all Americans.
About the National Competitiveness Forum
The National Competitiveness Forum (NCF) is an annual event that attracts the world’s top leaders, innovators, and influencers to tackle pressing issues and identify innovative solutions to drive economic growth, productivity, and prosperity for all Americans. Taking place in Washington, D.C., the NCF is also a key opportunity for Council members to inform the competitiveness agenda of the United States.
