May 09 2014
WASHINGTON, DC – U.S. Congressman Pete Sessions (R-TX), Chairman of the House Rules Committee, today released the following statement regarding House passage of H.R. 4438, the American Research and Competitiveness Act of 2014, which makes the research and development tax credit permanent:
“One of my top priorities in Congress is to provide our nation’s job creators with the economic certainty that they need so that they can expand their businesses and create more jobs. While the research and development tax credit plays an important role in stimulating economic growth, its temporary status creates needless uncertainty for American businesses. The American Research and Competitiveness Act of 2014 would both simplify and make permanent the R&D tax credit, which would allow American companies to confidently plan for the future. I urge the Senate to join us in making this important tax credit permanent to encourage innovation and ensure that our nation remains competitive in the global marketplace.