I wanted to take a couple of minutes now to underscore the importance of the Senate passing the EXPIRE Act now, and in particular to highlight what the cost of inaction would be if the Senate fails to act. This legislation is critically needed because it is an essential tool to prevent a tax increase and particularly the kind of tax increase that will harm our ability to create more good-paying jobs--high- skilled, high-wage jobs. These are the jobs tied to innovation. Without this legislation, for example, what we would have is a new tax on innovation because we wouldn't renew for a period of 2 years, as we work on tax reform, the research and development tax credit. This credit is absolutely essential because it is what is used by the employers who are coming up with innovative approaches to create more long-term employment for our country. This credit is used to help pay the wages for those kinds of innovation-oriented jobs. Without this legislation, we would have in this country a tax on innovation. I don't think that is where this country wants to go. It will be harder without this legislation to have employers hire veterans--veterans who are now coming out in throngs to job fairs in cities across the country. Employers will find it even harder to assist them in terms of finding employment.…
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