[Congressional Record Volume 153, Number 166 (Tuesday, October 30, 2007)]
[House]
[Pages H12157-H12158]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                             R&D TAX CREDIT

  (Mr. ROSKAM asked and was given permission to address the House for 1 
minute.)
  Mr. ROSKAM. Madam Speaker, I rise today to raise awareness of the 
imminent need for Congress to extend and make permanent the research 
and development tax credit. The R&D tax credit is set to expire at the 
end of this year. At a time of increasing globalization, America's 
prosperity depends more than ever on its capacity to

[[Page H12158]]

innovate. For decades, our Nation's leadership in research has led to 
discoveries that have dramatically improved living standards around the 
world and given rise to new industries that have in turn created 
millions of new jobs.
  Other countries are well aware of the significant economic benefits 
that flow from R&D activities, and many have created strong tax 
incentives designed to attract R&D investment around the world. In 
fact, 10,000 American companies will be able to take advantage of the 
permanency of the R&D tax credit. In my district alone, small and 
medium manufacturers, technology companies and leading research 
institutions will greatly benefit from this tax credit.
  Let's not play politics with the lifeblood of our economy. Let's join 
together, both sides of the aisle, to extend the R&D tax credit.

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