On the recordMay 20, 2015
I support a permanent research and development credit to incentivize more research. The question is: How do we pay for it, and how do we ensure that it actually encourages more jobs, leads to more research and more economic development, instead of just giving a reward to those who are already doing something in this area to advance their product? Nothing, of course, prevents multinationals from taking the credit and then putting the patent or the copyright in some foreign tax haven and avoiding paying their American taxes, another reform that is necessary. We should reject this proposal in favor of a strong research credit that actually incentivizes necessary research here in America and which is paid for, in part, by comprehensive reform of this very credit. Surely, we don't need any more research today to know that today's bills are the wrong way to go for America.
