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Extending R&D tax credit would give lame-duck Congress something to quack about |
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Nov 14, 2006 at 06:32 PM |
Few tech-related policy issues rankle me more than the failure of the U.S.
Congress to extend and strengthen the R&D tax credit. Despite bipartisan support, each year the passage of the credit is a struggle. This year has been worse than the normal legislative slog, with an extension yet to be instituted, despite "promises" to do so to the contrary.
For me, it's a no-brainer: an R&D tax credit gives U.S. companies another tool in their kits to help them create new technologies and remain competitive on the world stage. Without the credit, it becomes, as SEMI's Vicki Hadfield said at a press conference held earlier today, a "tax on innovation."
Passing an extension of the R&D tax credit would give the 109th Congress, one of the lamest lame-duck representative bodies ever to fluff its feathers in the Capitol, something to quack about in its final weeks.
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