R&D Tax Credit Expired 12-31-09 for the 14th time time since originally enacted into law in 1981
Action Request: Urge U.S. Representatives to cosponsor bipartisan bill H.R. 422 (Meek/Brady). To view current cosponsors, click here. Urge U.S. Senators to cosponsor bipartisan bill S. 1203 (Baucus/Hatch). To view current cosponsors, click here. Both bills will strengthen and make permanent the R&D tax credit.
Coalition's Legislative Objectives:
The objectives of the R&D Credit Coalition are:
a strong, permanent R&D credit of commensurate rate for all companies;
a 20 percent simplified credit; and an extension of the traditional credit.
R&D Credit Coalition Blog: Click Here
2008 Legislative Victory:
Credit seamlessly renewed and strengthened by Public Law 110-343 signed on October 3, 2008, by President Bush. The 110th Congress passed H.R. 1424, The Emergency Economic Stabilization Act of 2008, which included a retroactive two year extension of the R&D tax credit from January 1, 2008, through December 31, 2009. Also included is language to strengthen the credit by increasing the Alternative Simplified Credit rate to14% for 2009.
The R&D Credit Coalition is a group of more than 100 trade and professional associations along with small, medium and large companies that collectively represent millions of American workers engaged in U.S.-based research throughout major sectors of the U.S. economy, including aerospace, agriculture, biotechnology, chemicals, electronics, energy, information technology, manufacturing, medical technology, pharmaceuticals, software and telecommunications.
For more information about the R&D Credit Coalition, please contact Monica McGuire, Executive Secretary, at 202-637-3076.