WASHINGTON, May 19 /PRNewswire-USNewswire/ -- Speaker Nancy Pelosi released the following statement today on the COMPETES Act, which failed to pass on the House floor under suspension of the rules, which requires a two-thirds majority. The final vote was 261 to 148, with every Democrat and 15 Republicans voting in favor of the legislation.

"Science and technological innovation have formed the backbone of our progress as a people and our prosperity as a nation. And investments in innovation are essential to restoring our economic strength today.

"The COMPETES Act will spur innovation, invest in cutting-edge research, modernize manufacturing and create jobs. Simply put, it is about good paying jobs for Americans, strong American leadership in the global economy, and long-term growth for America's workers and families. These all-American goals deserve bipartisan support and have received overwhelming votes in the past. Yet today, as they did last week, Republicans chose cheap political tricks over progress.

"Democrats will continue to work on the side of the middle class and America's Main Street. And we urge Republicans to stop the cynical games that come at the expense of America's Main Street."

SOURCE Office of the Speaker of the House