Tell Congress to Make it Permanent.
The R&D tax credit, a proven engine of economic development, was created more than 30 years ago and spurs innovation by companies of every size across every sector. For medical research and development, the tax credit not only creates jobs, but it enables critical R&D focused on a host of disabling and deadly illnesses. However, as it stands, the tax credit needs to be reauthorized by Congress and the president every year. This creates uncertainty for businesses and hinders the full economic benefit of this incentive. Strengthening the tax credit by making it permanent is vital to continuing our nation’s commitment to research.
The Senate Finance Committee Chairman, Max Baucus (D-MT), and Ranking Member, Orrin Hatch (R-UT), are soliciting comments from their Senate colleagues as the committee embarks on tax reform. Starting with a “blank slate,” they hope to rebuild our nation’s tax code in a fair and simplified manner, including only those special provisions which grow the economy or promote policy goals. The R&D tax credit meets both of these tests by fueling economic activity and spurring medical progress. Ask your senator to push for inclusion of a permanent R&D tax credit in the revised tax system.
Take action now.