Manufacturers: Passage of Permanent R&D Credit a Step Forward for Innovation

Tax Credit a Proven Job Creator

National Association of Manufacturers (NAM) Senior Vice President of Policy and Government Relations Aric Newhouse issued this statement congratulating the House of Representatives for passing H.R. 4438, the American Research and Competitiveness Act of 2014, which would enact a stronger, permanent research and development (R&D) tax credit:

“Manufacturers have been longtime supporters of the R&D tax credit because they know it is critical to long-term growth and job creation. Right now, the United States ranks 22nd in research incentives among industrialized countries. If we want to continue to compete in the global economy and ensure our mantle of economic leadership, this must change.

Today’s House passage of a stronger, permanent R&D tax credit is an important step forward in increasing investment in the United States to create high-wage jobs. Manufacturers appreciate members of the House who supported innovation and jobs today and now urge the Senate to make R&D a permanent part of our tax code.”

Click here to read the NAM’s Key Vote letter.