Bill Sali: “global competition is a fundamental reality of today's economy. America is doing well because we offer the highest…”

“global competition is a fundamental reality of today's economy. America is doing well because we offer the highest quality products in the world. Only by staying on the leading edge of technology and innovation will our competitive edge stay sharp. Our competitive advantage will diminish unless our companies have the ability to perform research and develop the technology improvements that keep America out front. That is why we need a permanent R&D tax credit. One recent study found that R&D credit teases out nearly $3 of additional R&D investment for every $1 of taxes companies can deduct. In addition, it has been estimated that more than three-quarters of R&D tax credit dollars are used for the compensation of employees who work in U.S.-based research and development. In my home State of Idaho, roughly 35,000 people are employed in the high-tech industry. The companies where they work depend on the best possible research and development. It is hard for firms to plan for future growth when a key tax credit is destined to expire at the end of the year. Madam Speaker, it is time to make the R&D tax credit permanent.”