As tax reform discussions heat up, U.S. Rep. Allyson Schwartz (D-PA) and U.S. Rep. Charles Boustany (R-LA) are calling on Congress to advance tax policies that incentivize innovation and promote new domestic manufacturing. America leads the world in innovation and research and development, but our current tax code fails to reflect the challenges of a competitive global economy, especially as it relates to domestic manufacturing.
Today, Schwartz and Boustany introduced the Manufacturing American Innovation Act to further incentivize innovation, research and development, and manufacturing in the United States. The bipartisan legislation reduces business taxes by more than half, to a 10 percent rate, for companies that manufacture patented products in the United States. By creating a fair playing field, this plan would lead to both U.S. and foreign companies bringing jobs back to the United States, as well as the creation of new jobs.
To read the full, original article click on this link: The Manufacturing American Innovation Act: A New Way of Thinking in Corporate Tax Policy | Congresswoman Allyson Schwartz
