Make the R&D Tax Credit Permanent

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Impact

Impact: 
The government can help foster innovation and get the country back to work by incentivizing business to invest in research and development.

Debate Summary

Present your argument: 

There are several bills in Congress related to tax credits to promote business. The problem now is that business cannot plan long term if the R&D tax credit is only temporary. Here's one bill that attempts to remedy that. H.R. 880 The American Research and Competitiveness Act of 2015 http://1.usa.gov/1Ec0r0y

There are others like S. 537 The COMPETE Act of 2015. https://www.congress.gov/bill/114th-congress/senate-bill/537/all-info

Additional Information

Additional Description: 
No one doubts that Silicon Valley is an engine of innovation and job creation. Silicon Valley accounts for $1 trillion towards the US economy. We need a comprehensive business tax reform, simplifying the tax code (which has not been updated since 1986) and a permanent R&D tax credit. This will help create American jobs and new opportunities here in the US. Add your own comments pro or con under the arguments tab and then encourage others to vote.

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Committee Members

Joint Committee on Taxation