Permanently Extend the Research & Development Tax Credit

The 109th Congress passed H.R. 6111, The Tax Relief and Health Care Act of 2006, that included a retroactive extension of the R&D tax credit from January 1, 2006, through December 31, 2007. Also included is language to strengthen the credit with a new credit formula called the Alternative Simplified Credit that would be effective January 1, 2007 through December 31, 2007. This legislation was signed into law December 20, 2006 by President Bush. BIO will continue to advocate for a permanent, strengthened credit throughout the 110th Congress.

Why is R&D important? New vaccines, faster Internet and other communications capabilities, safer transportation, enhanced energy-efficient appliances, higher quality entertainment, better homes, improved national security ... the list of societal benefits as a result of R&D is endless. R&D is the lifeblood of the biotechnology industry and the U.S. economy. Congress should encourage U.S. companies to continue to increase their U.S.-based R&D activities with a strengthened and permanent R&D Credit.

Innovative ideas become reality when companies in America make a strong commitment to invest in research and development. It's a commitment to job creation, to consumers of products and services, and to economic growth.

BIO letters in support of proposal to allow companies to accelerate the use of R&D and AMT tax credits (June 12, 2008)
BIO's Letters to House and Senate Leaders
Read BIO's letter (111 KB PDF)
Read BIO's letter to Senate (109 KB PDF)
Read BIO's letter to House (109 KB PDF)

BIO Applauds House Passage of Research & Development Tax Credit Extension (December 8, 2006)
Read the press release

More Information
R&D Credit Coalition Web Site.
More Info

R&D Tax Credit Archive
Older materials on this subject are available in our archive.
Browse the Archive

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