[Congressional Record (Bound Edition), Volume 145 (1999), Part 3]
[House]
[Page 3923]
[From the U.S. Government Publishing Office, www.gpo.gov]




             H.R. 835: MAKING THE R&D TAX CREDIT PERMANENT

  (Ms. ESHOO asked and was given permission to address the House for 1 
minute and to revise and extend her remarks.)
  Ms. ESHOO. Mr. Speaker, I rise today in support of H.R. 835, the bill 
to make permanent the research and development tax credit. I am proud 
to be an original cosponsor of the bill, because making the research 
and development tax credit permanent will help to maintain the stunning 
economic expansion that America now enjoys.
  The R&D tax credit is in place right now. In fact, the Congress has 
extended this on a stop-go basis since 1981. The bill making the credit 
permanent would assist companies in research-intensive industries, 
because they need to know that they can count on the credit being there 
in order to plan their future.
  Imagine if a home mortgage interest deduction was renewed on a stop-
start basis by the Congress of the United States. The housing industry 
would be in chaos, and American citizens would not know whether they 
could count on it or not.
  So I think it is time to make the R&D tax credit permanent, just as 
the home mortgage interest deduction is, and give American companies 
the tools that they need. We need to continue to expand this economy 
and keep it stunning. I urge my colleagues to support it.

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