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On the occasion of the inauguration of George W. Bush as the 43rd president of United States, the IT policy of his administration is being promulgated. In the article below, The Korea IT Times examines President Bush's technology agenda. "The role of government is not to create wealth; the role of our government is to create an environment in which the entrepreneur can flourish, in which minds can expand, in which technologies can reach new frontiers." - President George W. Bush The United States has long been the leader in innovation and technological invention. From Thomas Jefferson to Gordon Moore, American ingenuity has helped expand the national economy and increase the standard of living for all Americans. Today more than ever before, technological development and individual enterprise are the critical drivers of economic growth, both in the U.S. and around the world. New technologies are revolutionizing the way we learn, work and play -- all the while improving our quality of life. High-speed data networks known as broadband offer great potential to increase productivity, promote economic growth and revolutionize how we deliver health care. President Bush believes that government has an important role to play in creating an environment in which innovators can generate new ideas and entrepreneurs can turn these ideas into new products, new companies and new jobs. As the birthplace of the Internet, and home to the world's most important information technology companies, the United States is well positioned to continue its leadership in technical innovations for years to come. Promoting Innovation Although industries that produce information technology represent only eight percent of all enterprises in our economy, they produce 29 percent of U.S. exports, generate some of the best and highest paying new jobs in the U.S., and strongly contribute to national productivity growth. Looking forward, we must foster incentives to ensure continued growth in innovation and new technologies. We must invest in basic research, ensure that the intellectual property of innovators is secure at home and abroad, as well as invest in the skills and abilities of all our workers. One innovation that holds significant promise for increased U.S. productivity is the high-speed Internet, also known as 'broadband.' The President's major initiatives geared to promoting IT are as follows. * Encourage broadband development and deployment. As Vice President Cheney stated in February 2002, the Administration is "committed to keeping America the world's leader in developing new broadband technology and applications." To achieve this goal the President has signed into law an economic security package that will speed depreciation schedules. Deploying the advanced telecommunications equipment and technologies needed for the high-speed Internet is capital intensive. Companies are more likely to make these important investments if they can depreciate the capital costs associated with broadband rollout over a shorter time period. * Work with Congress to pass an extension of the moratorium on Internet access taxes This will help keep Internet access, including broadband access, affordable. Consumer demand for broadband is very price sensitive. Precluding new access fees on broadband services helps reduce the cost of both the Internet and high-speed data services. * Direct the President's Council of Advisors on Science and Technology (PCAST) to review and make recommendations on how to facilitate broadband deployment Particular focus has been plaecd on issues related to consumer demand. The PCAST is the President's private sector science and technology advisory panel. The Council consists of esteemed members of the academic and business community. * Promote research and development The President signed into law the largest federal R&D budget in history and proposed broadening and making permanent the research and experimentation tax credit. Federal research and development, including programs such as the $1.9 billion Networking and Information Technology Research and Development (NITRD) initiative, help lay the foundation for advances in broadband technologies. Equally important is private sector investment in research. The R&E tax credit promotes private sector investment in research on advanced technologies such as broadband.