Permanent R&D Tax Credit Legislation Introduced
The new chair of the Senate Finance Committee, Max Baucus (MT), introduced legislation on the first day of the 110th Congress to permanently extend the R&D tax credit an article in Congressional Quarterly stated (Sub Req'd).
The R&D tax credit has always been a priority of the high-tech community on Capitol Hill and there have been previous attempts to make it permanent rather than extending it each year. However, the cost of such a permanent tax credit has generally kept this from happening. After much wrangling (most not related to the merits of the R&D tax credit itself, but rather the other tax proposals it was packaged with), the 109th Congress passed the R&D tax credit for 2006 retroactively in the waning days of the session in December and included the extension through 2007.
The CQ article also states that competitiveness issues will be a priority for Baucus as the chair of the Finance Committee. We certainly hope that is true, not just for the Finance Committee, but for all of Congress.
Posted by MelissaNorr at January 5, 2007 10:03 AM
Posted to American Competitiveness Initiative | Funding | Policy | R&D in the Press | Research
