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Technology Leaders Call Stimulus Approval Strong Step for Economic Recovery

Published Sunday, February 15, 2009

The Technology CEO Council today hailed final passage of the economic recovery package, calling it an important step in ensuring U.S. competitiveness and innovation leadership.

TCC, made up of CEOs from the nation's leading technology companies, has been working with policy makers to discuss the state of the economy and the policies needed to jumpstart the economy in the near-term while creating a sound foundation that will position the United States for long-term growth.

"The economic recovery package is an important first step in stabilizing the economy and investing in the sectors that will lead a recovery and long-term prosperity," said Bruce Mehlman, Executive Director of TCC. "Investments in broadband, health care IT and green technologies will provide jobs to millions of Americans and position the United States to address some of its most pressing national challenges."

Last month, all TCC CEOs joined 120 technology business leaders in calling on Congress to approve investments in digital infrastructure as part of America's economic recovery. In a letter to congressional leaders, the TCC CEOs said investments in health care information technology, broadband and energy smart grids "will provide our nation with a near-term stimulus and long-term comparative advantage."

"Investments in America's digital infrastructure will spur significant job creation in the immediate term. An investment of $40 billion in America's IT network infrastructure in 2009 will create more than 949,000 U.S. jobs, more than half of which will be in small businesses," wrote the business leaders.

Technology CEO Council companies generate over $365 billion in annual revenues and employ over 950,000 workers. Founded in 1989 and formerly known as the Computer Systems Policy Project, its members include Mr. Splinter; Mr. Brown; Mr. Appleton; Michael Dell, Chairman and CEO of Dell; Joe Tucci, EMC Chairman, President and Chief Executive Officer; Mark V. Hurd, Chairman, President and CEO of Hewlett-Packard Company; Samuel J. Palmisano, Chairman, President and CEO, IBM Corporation; and, Paul S. Otellini, President and CEO of Intel Corporation.