22 Oct R & D tax credit could create more jobs
Posted at 11:18h in Economy, Entrepreneurs 0 Comments
If a research and development tax credit is allowed to expire at the end of the year, 120,000 U.S. jobs could be put at risk, according to a group of companies supporting an extension.
A lapse in the tax credit could also put at risk $16 billion in R&D and related economic activity, the R&D Credit Coalition said.
The coalition today called for Congress to make the tax credit permanent and to increase the credit paid to some companies. The R&D tax credit, which gives eligible companies a tax credit of 14% to 20% of R&D spending, has been temporarily extended multiple times since it was first approved by Congress in 1981.
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