On behalf of the hundreds of thousands of employees represented by the companies and related trade organizations, which comprise the R&D Credit Coalition, thank you for your strong and continued support for the research and development (R&D) tax credit. We urge you to include a strengthened, permanent R&D tax credit in your fiscal 2012 budget request to Congress. Your fiscal 2011 budget contained a proposal to permanently extend the current R&D credit.
The credit is set to expire again on December 31, 2011, and the Coalition is actively working to permanently extend and strengthen the credit by increasing the rate for the Alternative Simplified Credit. We believe that a strengthened, permanent credit will help maintain the United States as a world leader in R&D – a vital engine for the creation of high quality jobs that will support economic recovery in our nation. A recent OECD report on research tax incentives ranked the United States 24th in terms of competitiveness.
The letter is signed the coalition’s leadership: Janet C. Boyd of The Dow Chemical Company, Ann Taylor of sanofi-aventis U.S. Inc., Catherine T. Porter of Agilent Technologies, Inc., and Monica M. McGuire of the National Association of Manufacturers. Monica is executive secretary of the coalition.