To bring this agenda to life, ITIF outlines an action plan that revolves around three imperatives:
1. Fostering innovation, including increasing federal funding for research, expanding the R&D tax credit, building a higher-skilled workforce, and promoting entrepreneurship.
2. Boosting productivity, including an investment tax credit, accelerated IT transformation in industries, raising the minimum wage, closing the digital divide, and expanding surface transportation funding.
3. Competing globally, including lowering the corporate tax rate to 25 percent, adopting a territorial tax system, and adopting new trade agreements while putting trade enforcement at the center of U.S. foreign policy.
Implementing any of the proposals that ITIF enumerates would constitute noteworthy progress on its own, but together they would add up to much more than the sum of their parts. They would form the framework for a cohesive national strategy to grow the economy and expand opportunities for all Americans by strengthening the underlying fundamentals driving our economic well-being in the 21st century.