The Apple Pie Expires and Motherhood Waits to be Renewed

By August 15, 2008Economy, Innovation, Taxation

Good report on the state of the play, or no-play, of the research and development tax credit by Brian Wingfield at Forbes, “No Developments.”

It’s favored by business groups, celebrated by presidential candidates and loved by politicians on both sides of the aisle, yet it can’t grab Washington’s attention.It’s the research and development tax credit, which lawmakers let expire at the end of last year in a partisan dispute over tax issues and how to pay for them. Businesses say that without it, other countries like Canada, Ireland and Australia–which have attractive R&D tax incentives–will lure research jobs away from the U.S.

“It’s a motherhood and apple pie issue,” says Monica McGuire, who’s lobbying for the credit on behalf of the National Association of Manufacturers and the much broader R&D Credit Coalition.

 The website of the R&D Credit Coalition is InvestinAmericasFuture.org.

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