IHS Chemical Week

House Bill Would Make R&D Tax Credit Permanent

2:56 PM MST | March 15, 2011 | Vincent Valk

A bipartisan group of four House members has introduced a bill, the American Research and Competitiveness Act of 2011, to make permanent the U.S. research and development (R&D) tax credit. The tax credit, which was first introduced in 1981, has been reauthorized fourteen times but never made permanent. The bill's sponsors are Kevin Brady (R-TX), John Larson (D-CT), Erik Paulsen (R-MN), and Anna Eshoo (D-CA). The bill also increases the "alternative simplified credit" from 14% to 20% of qualified research expenses (QREs), as defined by the tax code...

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