Bill Introduced to Make R&D Tax Credit Permanent
BANNOCKBURN, IL – “The American Research and Competitiveness Act of 2011” has been introduced; it is a bipartisan bill to strengthen and make permanent the R&D tax credit.
IPC and the National Association of Manufacturers support the bill: H.R. 942.
IPC says R&D is vital for US electronics companies to be globally competitive and retain US jobs. The NAM says strengthening the R&D credit from 14% to 20% and making it permanent will provide new opportunities for businesses of all sizes to expand and invest in their future, ultimately creating jobs and growing the economy.
The credit is important to manufacturers like Boston Scientific, which spends $1 billion annually on research, according to the NAM.
The frequent expiration of the R&D tax credit prevents the tax credit from effectively stimulating needed long-term R&D investments, says IPC. The R&D tax credit most recently expired for nearly twelve months in 2009 – the fourteenth time Congress has allowed it to lapse.
IPC encourages its members to contact legislators to endorse passage of permanent R&D tax credit legislation.
For more information, visit www.ipc.org/R&D-tax-credit-take-action or www.nam.org.
