Though innovation and entrepreneurship was notably absent from Wednesday's presidential debate on domestic policy, presidential candidates Mitt Romney and Barack Obama have acknowledged the importance of technological innovation in stimulating the economy and bolstering U.S. competitive capabilities in the global economy. As can be seen in the candidates' statements and party platforms, President Obama supports a publically driven innovation plan that partners with industry to make strategic investments, while Romney tends to emphasize the necessity of corporate tax and regulatory reform in creating a supportive framework in which private sector innovation can thrive.