COALITION HAILS INTRODUCTION
OF BIPARTISAN R&D CREDIT BILL
Bill Would Enhance U.S. Job Creation by Making Credit Stronger, Permanent
WASHINGTON, D.C. - The R&D Credit Coalition today applauds Sen. Orrin Hatch (R-UT), and Sen. Max Baucus (D-MT), for introducing a bill that would make the R&D tax credit stronger and permanent. The bill would increase the current Alternative Incremental Research Credit (AIRC) rates and provide for an elective credit that would extend the incentive to even more companies undertaking significant research and development spending in the United States.
“The business community is united behind this legislation because we understand that a stronger and permanent research credit is not only good tax policy but good jobs policy,” said Coalition Chairman Bill Sample of Microsoft. “An enhanced and permanent research credit gives businesses the long-term certainty they need when making plans for their research dollars. This credit is a powerful inducement for companies to undertake and increase research activities in the United States. That means they can create high-wage jobs now and embark on research that will help stimulate economic growth well into the future.”
“Senators Hatch and Baucus have demonstrated exceptional leadership on this issue and we commit to working with all the members of the Senate and the House to see this bill enacted this year,” commented Sample. “A vibrant research sector in the U.S. is vital to economic growth and this legislation represents the continued commitment of members of Congress to partner with the business community in this important endeavor.”
The R&D Credit Coalition is a group of more than 85 trade and professional associations and more than 1,000 small, medium, and large companies, which engage in U.S.-based research that represent major sectors of our economy including aerospace, agriculture, biotechnology, chemicals, electronics, energy, information technology, manufacturing, medical technology, pharmaceuticals, software, and telecommunications.