Max Baucus: “I rise today in opposition to the amendment offered by my colleague from Missouri, Senator Danforth. As coauthor, with…”

“I rise today in opposition to the amendment offered by my colleague from Missouri, Senator Danforth. As coauthor, with Senator Danforth, of S. 666, the Research and Development Enhancement Act of 1993, I am committed to the enactment of a permanent R&D tax credit with appropriate structural changes to address today's business environment. However, I also strongly support the provisions of S. 4. Both the National Competitiveness Act and a permanent R&D tax credit are necessary pieces of legislation. S. 4 is particularly important to small companies. It will enable them to find the most advanced and commercially viable technologies. Technologies the perfection of which was probably bolstered by the availability of the R&D credit. The permanent extension of the R&D credit, accompanied by technical changes in its application should be debated by the Finance Committee in consideration of a tax bill over which it has jurisdiction. It would be a disservice to the manufacturing industry in this country to prevent S. 4 from moving forward under the promise of someday enacting legislation involving the R&D tax credit.”