According to the Joint Committee on Taxation, making it permanent will lead to a 10 percent increase in new research here in America. The fact is American companies are going to invest in research. The question is, are they going to do it in America or are they going to do it overseas? We can't allow foreign countries to take this research, the jobs that go with technology. It is time to come together--Republicans and Democrats--to make this law permanent.
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I am proud to yield 2 minutes to the gentleman from South Carolina (Mr. Rice), the Republican leader of the Oversight Subcommittee.
Actually, never make that offer to a sitting Member of Congress. Madam Speaker, I yield myself such time as I may consume. This has been awfully good work on behalf of the bipartisan Members of Congress on an issue they believe in. But…
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