A jobs strategy that both parties can agree on

the world.

So what can lawmakers do to foster innovation?

First, Congress could make the R&D tax credit permanent. This provision was included in the presidents budget last year, but didnt make it through. This is something on which Democrats and Republicans see eye-to-eye -- politicians from both parties have voted regularly to extend the temporary tax. Making it permanent would provide a long-term incentive for investors to put more money into the sector. An already-growing industry could explode.

Lawmakers should also enact a payroll tax holiday. This would encourage private-sector employers in the biotech community to make new hires and retain current employees.

Long term, we must ensure the industry can fill the jobs thus created. We need to foster the next generation of scientific researchers -- perhaps the ones who will discover a cure for cancer -- by improving math and science education in our nations schools.

The National Center for Education Statistics compared 15-year-olds around the world last year, and discovered that American students were below average in math and science. Students in other countries are improving their performance in these crucial subjects, while ours simply stay steady. American high school students are in the bottom quarter in math, trailing the rising China.

In future years, our countrys thriving industry of innovation could find itself increasingly competing for investment dollars headed to Asia. Between 1986 and 2003, the U.S. share of global R&D investment declined from 46 percent to 37 percent. Even more striking -- our share of scientific researchers fell from 41 percent to just 29 percent. We must stay competitive in the arena weve dominated up to now.

Biotechnology is the future of the American economy. Other industries are innovating, too, of course. But biotech is a rare bright spot in this gloomy recession. Passing consensus-driven, bipartisan policies to boost what might be our fastest growing sector will create jobs and save lives.

Douglas E. Schoen was a campaign consultant for more than 30 years and is the author of "Declaring Independence: The Beginning of the End of the Two-Party System."