The Senate passed patent reform last night by a vote 89-9, marking the first jobs bill to pass this fall. Its passage came after weeks of Republicans stalling it in the House.
The bill, titled the Leahy-Smith America Invents Act, is expected to spur innovation and jobs. By clearing a three-year backlog of patent applications, the legislation will put nearly 300,000 Americans back to work.
In other words, American investors can take the next iPod or electric car from the drawing board to the production line.
Senate Majority Leader Harry Reid commended his colleagues for passing the bill, and said he hopes the spirit of bipartisanship on display last night will continue: “Our differences should not preclude us from taking action in areas where there is common agreement.”