In 1981, the federal government established the research and experimentation (R&D) tax credit. Today, with Congress considering comprehensive corporate tax reform some have argued that Congress should jettison the credit and use the savings to pay for statutory rate reduction. For example, in a recent Washington Post op-ed, noted tax economist Marty Sullivan, argued for elimination of the tax. In contrast, ITIF has argued that this would be a mistake and that the credit plays a valuable role in spurring investment in U.S. R&D while also increasing jobs, innovation and competitiveness.
To read the original article: ITIF Debate: Congress Should Retain and Expand the Research and Experimentation Tax Credit | The Information Technology & Innovation Foundation
