Melvin Watt: “Last Friday, the President signed the patent reform bill; but before the ink is dry on the patent reform bill, the…”

“Last Friday, the President signed the patent reform bill; but before the ink is dry on the patent reform bill, the agreement that led to the passage of it that all of the fees that are collected by the Patent and Trademark Office will be used by the Patent and Trademark Office is reneged on in this continuing resolution. This is a job-creating bill, an innovation-creating bill, and because we have been taking the money of the Patent and Trademark Office for years and diverting it to the general fund, we have, in effect, imposed a tax on innovation in this country. The appropriators promised us that they were going to correct this problem, but there is nothing in this bill to address that promise. I don't see how I can support a continuing resolution that does not honor the commitment that was made in our patent reform bill. Just last Friday, the President signed the America Invents Act (AIA), a bipartisan bill that promises to stimulate innovation and create jobs and add fuel to our economy. The AIA created a mechanism for USPTO, beginning in FY2012, to access all of the fees it collects by allowing USPTO to notify Congress that the Office will need the excess fees to support its operations and hire the staff required to reduce the staggering backlog of patent applications.…”