Connie Mack: “we have good reason to celebrate what we have just accomplished by passing the Taxpayer Relief Act of 1997. We set out…”

“we have good reason to celebrate what we have just accomplished by passing the Taxpayer Relief Act of 1997. We set out to help families pay for the education of their kids. It's done. We set out to provide a $500 credit for children. It's done. We set out to provide meaningful death tax relief. It's done. We set out to expand IRA's to encourage savings. It's done. We set out to provide significant capital gains relief. And it's done, too. The Taxpayer Relief Act is a great victory for the American people. But we cannot rest on this accomplishment, when there is much else that needs to be done. I am today introducing legislation to permanently extend the research and experimentation tax credit. In the tax bill we just passed, the research and experimentation tax credit is extended a mere 13 months, to June 30, 1998. This extension is disappointing. The research credit has provided a valuable economic incentive for U.S. companies to increase their investment in research and development in order to maintain their competitive edge in the global marketplace.”