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Blum leads effort to push for vote on R&D tax credit

Congressman Blum -- CROPPEDFrom Press Release

 

U.S. Rep. Rod Blum (R-IA 1) led a bipartisan letter with 22 other Members of Congress to Speaker of the House John Boehner calling for H.R. 880, the American Research and Competitiveness Act of 2015, be brought for a vote as quickly as possible.

The bill permanently extends and simplifies the calculations for the Research and Development Tax Credit.  The House Committee on Ways and Means recently approved the bill, which awaits further action on the House floor.

“As a small businessman, I fully understand the importance of stability in operating a business – especially a technology related company.  Many of my colleagues in the Freshmen Class agree that making this tax credit permanent is a good start to maintaining the United States’ lead in innovation,” Rep. Blum said.  “By incentivizing innovation, this tax credit encourages companies to create high paying, skilled jobs that will create the future of technology.”

Besides Blum, the following the letter was signed by U.S. Rep. David Young (R-IA 3). Currently, to date, the bipartisan legislation has 22 cosponsors, of which 11 are freshmen members. The letter may be read by clicking here.