Political Quotes

“today I rise to call on this Congress to pass legislation to make permanent the Federal Research and Development Tax Credit. I am a strong supporter and an original cosponsor of H.R. 835, which really is a bipartisan piece of legislation sponsored by Representatives Johnson and Matsui to make it permanent. It is also one of the top issues of the new Democratic coalition for this Congress. The R&D tax credit provides an essential incentive for companies to increase their investment in U.S. research and development. The R&D tax credit is important to the Research Triangle Park and the rest of my district in North Carolina, which happens to be the home for 3,100 information technology establishments and over 195,000 technology employees, and with a payroll of $5.1 billion. This tax credit is so important because it provides a base amount, but North Carolina has an amount tied to that that will make a difference, and if the Federal is lost, so will be the State. We need to make it permanent this year. Unless companies can consistently depend upon the combined Federal and State tax credit year in and year out, we risk the ground-breaking research that is provided for job placement.”