[Congressional Record (Bound Edition), Volume 153 (2007), Part 20]
[House]
[Page 28612]
[From the U.S. Government Publishing Office, www.gpo.gov]




                   NEED FOR PERMANENT R&D TAX CREDIT

  (Mr. SALI asked and was given permission to address the House for 1 
minute.)
  Mr. SALI. Madam Speaker, global competition is a fundamental reality 
of today's economy. America is doing well because we offer the highest 
quality products in the world. Only by staying on the leading edge of 
technology and innovation will our competitive edge stay sharp. Our 
competitive advantage will diminish unless our companies have the 
ability to perform research and develop the technology improvements 
that keep America out front. That is why we need a permanent R&D tax 
credit.
  One recent study found that R&D credit teases out nearly $3 of 
additional R&D investment for every $1 of taxes companies can deduct. 
In addition, it has been estimated that more than three-quarters of R&D 
tax credit dollars are used for the compensation of employees who work 
in U.S.-based research and development.
  In my home State of Idaho, roughly 35,000 people are employed in the 
high-tech industry. The companies where they work depend on the best 
possible research and development. It is hard for firms to plan for 
future growth when a key tax credit is destined to expire at the end of 
the year.
  Madam Speaker, it is time to make the R&D tax credit permanent.

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