April 25,2007

Baucus Floor Statement on U.S. Competitiveness

In Ecclesiastes, the Preacher warns:

“The race is not to the swift, or the battle to the strong, nor does food come to the wise, or wealth to the brilliant, or favor to the learned; but time and chance happen to them all.”

America is used to being the swiftest. We are used to being the strongest.

America has become used to winning the race. We have become used to receiving the cream of
the world’s wealth.

But we would do well to heed the warning of Ecclesiastes. For time and chance will happen to
us, as well.

New global competitors have entered the race. Over time, they are growing stronger and more
learned.

America cannot leave winning the race to chance. We must redouble our speed. We must redouble our learning, if we are not to fall behind.

That is why, starting in June of 2005, I started delivering a series of addresses on America’s
economic leadership. That is why, in the last Congress and this one, I have introduced a series of bills addressing American competitiveness. Those bills dealt with education, energy, trade,
research, and savings.

And that is why much of the work in the Finance Committee this Congress will address
America’s economic competitiveness. The Finance Committee will shortly mark up education
tax incentives. We will follow with tax incentives for cleaner and more-renewable energy. This
year, we intend to extend Trade Adjustment Assistance. And we hope to address small business
health concerns, as well. Each of these bills will help American businesses to remain the world’s
leaders.

The bill before us will help, as well. The bill before us will promote excellence in education, technology, and science.

I hope to contribute a series of amendments to this bill. Each will bolster America’s economic
competitiveness.

###