A New Law

President Obama on Friday signed into law the American Innovation and Competitiveness Act (AICA). It was originally sponsored by Sens. Cory Gardner (R-Colo.) and Gary Peters (D-Mich.) It aims to advance research innovations in science, technology engineering and math, by cutting red tape and boosting diversity in those fields.

"AICA increases U.S. competitiveness while creating jobs for hardworking Americans and will help to spur new businesses and industries," Rep. Lamar Smith (R-Texas) one of its supporters and the chairman of the House Science Committee, said.

"On the whole, Americans will see improved accountability and transparency with a reduction in administrative burden on researchers as a result of this legislative effort.  It has been an honor to help shepherd this bill across the finish line, and to see this meaningful legislation signed into law."