Expanding the R&D Tax Credit
Presenting at a policy summit last Wednesday, Dr. Robert Atkinson, president of the Information Technology and Innovation Foundation, offered recommendations for tax policies that offer “enterprise-focused” tax credits for Research & Development. He suggested doubling the current R&D credit as well as offering a “knowledge credit” for employee training, along with a tax credit for IT investments. Focusing on productivity and innovation, he calls the strategy “Growth Economics.” As Atkinson explained in an October article for Science Progress, “the United States enjoyed the most generous R&D tax credit in the world; but today, we are 16th, behind countries as different by levels of development as Mexico, Canada, Japan, and France.” In that same article, he noted that “Congress took several steps toward [that] goal in the recent America COMPETES Act, but these efforts need to be expanded and fully funded.”
The Independent Women’s Forum hosted the summit, entited “Success in the Global Economy: An Agenda for the 110th Congress.” The IWF aims to bring discussion of social and economic issues to the women’s community.
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