With the U.S. unemployment rate stuck at over eight percent, one would expect a laser-like focus in Washington on simple tools that would increase growth. One key tool is the federal R&D tax credit: increasing the rate of the Alternative Simplified Credit (ASC) from 14 to 20 percent would increase annual GDP growth by $66 billion and create at least 162,000 jobs. Yet despite its efficacy, the United States continues to fall behind other nations in the generosity of its R&D tax incentive. Other countries, including Brazil, Canada, China, France, and India, have implemented R&D tax incentive schemes that far exceed that of the United States in generosity. In fact, in 2012, ITIF estimates that the United States ranks just 27th out of 42 countries studied in terms of R&D tax incentive generosity, down from 23rd just five years ago.
To read the full, original article click on this link: We’re #27!: The United States Lags Far Behind in R&D Tax Incentive Generosity | The Information Technology & Innovation Foundation
