Innovation Nation or Short Attention Span?

By December 19, 2007Innovation, Taxation

At a just-completed news conference releasing a report on small- and medium-sized manufacturers, National Association of Manufacturers President John Engler noted the increasingly important role these companies have conducting research and development.

And Congress fails to extend or make permanent the R&D tax credit? Engler:

While there are promises on both sides of the political aisle that this will be addressed right away in the new year, it’s an embarrassment for the innovation nation like the United States to have our major tax credit, really the only federal policy we have that prefers innovation, expiring or being treated with benign neglect by Congress, or being treated like a political football.

Whatever the excuse, whatever the reason, the expiration of this tax is a sobering message about the importance of innovation, really, to the bottom line of the Congress of the United States.

Engler’s issued a statement yesterday on the tax credit’s expiration. You can read it here.

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