US173 - R&D Tax Credit
By making the R&D tax credit permanent, we would give these companies certainty in the tax code and encourage them to keep their R&D efforts on American soil.
Making the credit permanent could increase private investment in R&D by more than $7.5 billion and, according to one estimate, could create more than 162,000 jobs nationwide. More than 2,000 New York companies could take advantage of this credit. By expanding, simplifying and making the credit permanent, we can spur more innovation here in New York, fuel our economic growth, and create the jobs of the future right here where we need them the most.
The R&D tax credit encourages American businesses to invest in job-creating innovation. But Congress has let this credit expire eight times. It’s time to make this credit for American innovation permanent.
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