Political Quotes

“to fuel American economic growth and job creation, we have to make sure our tax policy is as smart as the innovators who power our economy. American ingenuity has always been at the core of our economic success. Behind nearly every game-changing innovation, from the light bulb to the search engine, has been critical research and development that transforms an idea into a market-ready product. The challenges of the global economy may be new, but the solution is the same--supporting and sustaining American innovators. That is why I joined with my friend and colleague, the Senator from Wyoming, Senator Enzi, to draft legislation that gives innovative startup companies the opportunity to take advantage of the successful research and development tax credit, which would support their efforts to invest in innovation and create jobs. Senator Enzi and I are proud to be joined by Senator Schumer of New York and Senator Rubio of Florida in introducing the Startup Innovation Credit Act of 2012, which allows qualifying companies to claim the R&D tax credit against their employment taxes instead of their income taxes, thereby opening the credit to new companies who don't yet have an income tax liability. We are also grateful to our colleagues in the House, who are working to introduce a bipartisan companion bill this week.…”