[Congressional Record (Bound Edition), Volume 153 (2007), Part 20]
[House]
[Page 28611]
[From the U.S. 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 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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