On the recordDecember 17, 2015
I thank Chairman Brady and Speaker Ryan for their leadership. Mr. Speaker, to the previous gentleman, I say Mr. and Mrs. America would be stunned to know that, to keep current policy in place, we have to raise taxes to keep tax cuts, some of which have been in place for 30 years. The R&D tax credit has been around for 30 years. The horrible way that we make policy here on a retroactive basis or on a ``1-year forward and then we will address it again'' basis is changing today. Tom and Judy Price, who are farmers in my district, have been thinking about buying a loader this year. They can now, actually, buy one, and they can, actually, plan for the next 10 years on how to operate their farm and to make investments. There is that small business guy who wants to expense or that person to whom R&D is so important, but they weren't sure what we were going to do with the R&D tax credit even though it has been around for decades. For decades, the current policy has been the R&D tax credit. Yet, making that current policy permanent was being argued by some on the other side as our having to raise taxes to pay for this current policy. No wonder Americans shake their heads. This is a good bill. This is an amazing bill. Go talk to your small business owners.…
