[Congressional Record (Bound Edition), Volume 153 (2007), Part 25]
[House]
[Page 34117]
[From the U.S. Government Publishing Office, www.gpo.gov]




                   MAKE THE R&D TAX CREDIT PERMANENT

  (Mr. SALI asked and was given permission to address the House for 1 
minute and to revise and extend his remarks.)
  Mr. SALI. Madam Speaker, at the end of this month, a vitally 
important research and development tax credit is due to expire again.
  Since 1981, Congress has erratically extended this tax credit, and 
extensions have ranged from 6 years to 5 months. Sometimes extensions 
have applied retroactively. The tax credit even lapsed for a year. A 
permanent R&D tax credit is long overdue, and Congress should act now 
to make a permanent R&D tax credit a reality.
  Congress was right to offer an R&D tax credit. Doing so boosted 
America's competitive edge in an increasingly cut-throat global 
marketplace of ideas, products, and services. Yet we ignore, to our 
economic peril, the fact that other countries, including Australia, 
Canada, China, France and India, also offer tremendous R&D incentives 
to their industries.
  Now is the time to make R&D tax credits permanent. Doing so would 
remove an unnecessary burden on our industries, including roughly 
35,000 Idahoans employed in high-tech jobs.
  Madam Speaker, there is no reason for keeping this kind of tax credit 
temporary. Let us unleash the power of American ingenuity and make the 
R&D tax credit permanent.

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