[Congressional Record (Bound Edition), Volume 154 (2008), Part 4]
[House]
[Pages 5674-5675]
[From the U.S. Government Publishing Office, www.gpo.gov]




                        RESEARCH AND DEVELOPMENT

  (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, continuing on with the remarks that were 
just made, many U.S. companies are making plans of where they will 
spend

[[Page 5675]]

their research and development budgets for the next 3 to 5 years. 
Unfortunately, this Congress has made it increasingly difficult for 
these companies to invest those R&D dollars with the kind of careful 
planning their needs demand.
  High-tech companies are sending their R&D jobs abroad to countries 
that recognize that permanent R&D tax incentives induce businesses to 
locate research activities there. Canada provides a 20 percent flat 
credit for R&D. Ireland offers a 20 percent credit, as well as a full 
deduction, a low corporate tax rate, advanced infrastructure and a 
skilled, English-speaking workforce, all factors that appeal to many 
multi-national companies.
  Madam Speaker, these jobs sent overseas are permanently lost when a 
company starts a new R&D project. We must keep these jobs here. The R&D 
credit has already lapsed. The clock is ticking. Congress must extend 
the R&D tax credit today, and we must also foster R&D at home by making 
this important tax credit permanent.

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