Political Quotes

“I rise today to introduce my first bill in the Senate, one I believe will promote competitiveness and spur the growth of sustainable middle class jobs. As I noted in my maiden speech in January, the people of Delaware sent me here with a mission to work with my colleagues to help create jobs and get our economy moving again. My bill, the Job Creation Through Innovation Act, will do just that. By making strategic investments in research and development and incentives for economic growth, this legislation will help companies in Delaware and across the United States innovate, create jobs, and compete globally. First, it will simplify, expand, and make permanent the Research and Development Tax Credit. When this credit was enacted into law in 1981, the United States was the best place in the world to perform research and development. Thirty years and fourteen temporary extensions later, we still do not have a permanent R&D credit on the books. Passing temporary extensions, one after another, undermines the very purpose of this credit. Whenever there is uncertainty about the credit's future availability, businesses discount its value, and we reap only the counterproductive effect of reducing the credit's benefit to our economy. Research and development projects are never stop-and-go, and the R&D tax credit shouldn't be either. Second, many new small businesses today are ineligible for the R&D credit, because they are not yet profitable.…”