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TIBERI-SUPPORTED BILL ENCOURAGES ECONOMIC GROWTH, INCREASES JOB OPPORTUNITIES
Research and Development Tax Credit Would Be Permanent
Washington,
May 11, 2007 -
U.S. Congressman Pat Tiberi (R-OH) today announced his support of H.R.2138, the Investment in America Act, that would make the Research and Development (R and D) Tax Credit permanent and strengthen the alternative simplified credit for certain research expenses. The bill was introduced by Congressmen Sander Levin (D-MI) and Dave Camp (R-MI).
“This pro-growth tax policy not only encourages businesses to invest here, but the research and development creates quality, 21st century jobs,” said Congressman Tiberi, a member of the Ways and Means Committee. “Making the Research and Development Credit permanent indicates to businesses that this country is serious about strengthening our economy.”
The bill is now in front of the Ways and Means Committee for consideration. Twenty-four other members of the Ways and Means Committee joined Congressman Tiberi as original cosponsors of the bill.
Making the R and D Tax Credit permanent provides a meaningful incentive for business investment. The Credit is currently set to expire at the end of the year. The bill also increases the alternative simplified tax credit rate from 12 to 20 percent.
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