Proposed rules for the Small Business Innovation Research program could allow foreign-owned companies to compete for these federal R&D awards, according to the Small Business Technology Council.
“This change has the potential of sending hundreds of millions of American taxpayer dollars to businesses overseas,” SBTC Executive Director Jere Glover wrote in letters to Congress and President Barack Obama. “Products developed and manufactured by foreign firms with U.S. tax dollars are likely to benefit their own countries, to the detriment of American businesses.”