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II. New Economy -
Building a Stronger, Hi-Tech,
The Clinton Administration has moved on a variety of fronts to build the
kind of high-investment economy that will secure this nation's economic
leadership as we approach a new century. The Administration is pursuing
a broad-based strategy that improves the physical infrastructure that
serves as the arteries of our economy; promotes the development of
cutting-edge technology, including the information superhighway; removes
unnecessary regulations in a variety of businesses from interstate
banking to local trucking; and champions the interests of small business.
Infrastructure. We have increased public investment in
infrastructure while cutting the federal budget deficit for three years
in a row, increasing core highway and mass transit grants,
rail transportation in the Northeast Corridor, facilities and equipment
for the air traffic control system, and assistance to help states
improve their environmental facilities.
Information Superhighway. We are working to promote
competition and to remove regulations in the high-technology
communications business, speeding the development
of an information superhighway that will connect our businesses,
classrooms, libraries, hospitals and clinics as we approach the 21st century.
Technology for Economic Growth. We have promoted the
development of technology through incentives for private sector
investment, establishing government-industry partnerships in crucial
technologies, and maintaining our historically strong support for basic
Interstate Banking. We have lifted the outdated, artificial
restrictions on interstate banking, boosting the competitiveness of the
banking industry, while enhancing efficiency, and the supply of credit
and customer service.
Intrastate Trucking. We have extended the deregulation of
the trucking industry from interstate deregulation, which began in 1977,
to intrastate deregulation, reducing paperwork and
increasing competition within state markets.
Small Business. We have advanced the cause of small business
through a four-part strategy focussed on improving access to capital;
creating incentives for investment; improving the regulatory
environment; and expanding access to new markets.
President Clinton is laying the groundwork for tomorrow's prosperity by investing in the