Max Baucus: “I am pleased to again join with my friend, Senator Hatch, and my other colleagues, in introducing legislation to make a…”

“I am pleased to again join with my friend, Senator Hatch, and my other colleagues, in introducing legislation to make a permanent commitment to research-intensive businesses in the United States. This legislation is bipartisan and bicameral. A companion bill was introduced in January in the House of Representatives by Congresswoman Nancy Johnson and Congressman Robert Matsui. Every morning we here news of some new product or discovery that promises to make our jobs easier or our lives better. Many of these innovations started with a business decision to hire needed researchers and finance the expensive and long process of research and experimentation. Since 1981, when the R&D tax credit was first enacted, the federal government was a partner in that business endeavor because of the potential spillover benefits to society overall from additional research spending. Research has shown that a tax credit is a cost-effective way to promote R&D.”