Recently introduced H.R. 942, “The American Research and Competitiveness Act of 2011,” is a bipartisan bill to finally make the U.S. R&D tax credit permanent.
IPC — Association Connecting Electronics Industries applauded the introduction of the bill and noted that Congress has allowed the R&D tax credit to lapse 14 times, most recently for 12 months starting in 2009.
IPC noted that, compared to the United States, many countries have more generous R&D tax credits, which encourages long-term R&D investment and gives those companies, and countries, a competitive advantage. IPC noted that a permanent U.S. R&D tax credit will encourage long-term innovative efforts and investment in the United States, help the U.S. remain globally competitive, and retain jobs.
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