R&D Tax Credit: Haven’t We Been Here Before?

By December 6, 2007Innovation, Taxation

It was a bright, cold day in December, and the R&D tax credit was striking thirteen.

From PC World:

More than 40 trade groups, many representing the IT industry, have renewed their calls for the U.S. Congress to extend a research and development tax credit that expires this month, saying the tax break protects U.S. jobs.

Groups including the Business Software Alliance, the Biotechnology Industry Association, the Information Technology Association of America, and the Information Technology Industry Council (ITI) said the tax credit is a critical piece of U.S. innovation. During a press conference on Wednesday and in a letter to congressional leaders dated Tuesday, the groups pressed Congress to extend the credit, which will expire for the 13th time since 1981 on Dec. 31.

“The credit for us is really a jobs issue,” said Jay Timmons, senior vice president for policy at the National Association of Manufacturers. “The bottom line is, it’s about keeping high-skilled, high-wage jobs in the United States.”

The NAM’s news release is here.

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