WASHINGTON, D.C.–This morning the House passed H.R. 4438, the American Research and Competitiveness Act of 2014 to permanently extend the research and development tax credit. Congresswoman Lynn Jenkins (KS-02) released the following statement:

“Our current tax code is broken and hurting our ability to foster a healthy economy and create good jobs. While it is still my intent to work toward comprehensive tax reform, making key items such as the R&D tax credit, which has been extended on a temporary basis for the last 30 years, permanent is a good first step toward opening the door for economic growth. Only when this provision is permanent, will it give businesses the stability and certainty they need to invest in the United States.

“Congress has gotten in a self-defeating habit of continually extending tax provisions on a short-term temporary basis, and even worse on a retroactive basis. This is no way to write tax policy, let alone spur job growth. A major goal of tax reform is to provide stable, predictable rules for businesses so they can innovate, create good jobs, and increase wages for hardworking Americans.”

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