Political Quotes

“Mr. President, I rise to explain my vote against the managers' amendment to S. 23, the America Invents Act. I agree wholeheartedly with the chairman of the Judiciary Committee that we must enable our inventors to out innovate and produce the products and jobs of the future. However, a provision in the managers' amendment would take the Patent and Trademark Office, PTO, off-budget. I cannot support this provision for three reasons. First, the provision is unnecessary. Proponents argue that it will prevent the diversion of PTO's fees. However, since fiscal year 2005, the Appropriations Committee has rejected the practice of diverting PTO fees for other purposes and instead has consistently recommended that PTO retain every dollar it collects from inventors. In fact, the Appropriations Committee has on several occasions approved bills to allow PTO to spend up to $100 million in excess of PTO's appropriation if fee revenue is higher than the appropriations level. Second, the amendment would reduce oversight. Rather than being subject to the annual appropriations process, this agency--with a budget of more than $2 billion--would be on autopilot. The underlying bill seeks to reduce the backlog of pending patent applications. Currently, it takes PTO nearly 3 years to process a patent application. The backlog of applications stands at over 700,000.…”