Speaker of the House Nancy Pelosi, along with Majority Leader Harry Reid, gave the State of Our Union speech last week at the National Press Club. Pelosi’s portion of the speech covered many topics including innovation. Highlights:

Essential to our children’s future is the economic security of their families now. Preparing for the 21st century means bolstering our commitment to keep our nation number one. In our Innovation Agenda, unveiled more than a year ago here at the Press Club, House Democrats made a commitment to competitiveness. We will provide our nation with the tools necessary to unleash the next generation of growth and jobs.
In his State of the Union address last year, President Bush spoke of keeping America competitive. With Democrats in the majority, we must work together with our Republican colleagues to do so – nothing less than America’s economic leadership and our national security is at stake.
Innovation and economic growth begins in America’s classrooms. To create a new generation of innovators, we must fund No Child Left Behind so that we can encourage science and math education, taught by the most qualified and effective teachers.
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Innovation also requires federal grants to our universities, which have long been the spark for great breakthroughs: from the Internet, to biosciences, to fiber optics, to nanotechnology.
We must commit to doubling federal funding for basic research and development in the physical sciences and modernize and expand the research and development tax credit. And we will bring broadband access to every American within five years, creating millions of jobs.
These investments, and initiatives to support a thriving small business environment, will allow us to pursue the long-term, trailblazing research that gives rise to new advances, spawns new industries, and creates good jobs here at home.

We hope this means that basic science research agencies like NSF will receive the President’s proposed increases for the FY07 budget in the forthcoming CR and further increases in future budgets.
The full text of the speech can be found here.