Scribd Logo
Upload

Welcome to Scribd!

  • Tech R&amp Dletter

    Uploaded by

    bwingfield
    48 views2 pages
    The letter is signed by CEOs of major technology companies urging Congress to extend and expand the research and development tax credit before adjourning for the holidays. It summarizes that the U.S. first adopted the R&D tax credit in 1981 to encourage domestic investment, innovation and jobs, but that over time the credit has slipped in effectiveness compared to other countries. Failing to renew the credit would discourage American companies from continuing to invest billions in domestic R&D and hiring researchers, while other nations use such incentives. Studies show expanding the credit could create thousands of new jobs and economic growth in the U.S. The CEOs urge Congress to provide business certainty by extending and expanding the R&D tax credit.

    Original Description:

    Original Title

    TechR&Dletter

    Copyright

    © Attribution Non-Commercial (BY-NC)

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    The letter is signed by CEOs of major technology companies urging Congress to extend and expand the research and development tax credit before adjourning for the holidays. It summarizes that the U.S. first adopted the R&D tax credit in 1981 to encourage domestic investment, innovation and jobs, but that over time the credit has slipped in effectiveness compared to other countries. Failing to renew the credit would discourage American companies from continuing to invest billions in domestic R&D and hiring researchers, while other nations use such incentives. Studies show expanding the credit could create thousands of new jobs and economic growth in the U.S. The CEOs urge Congress to provide business certainty by extending and expanding the R&D tax credit.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    48 views2 pages

    Tech R&amp Dletter

    Uploaded by

    bwingfield
    The letter is signed by CEOs of major technology companies urging Congress to extend and expand the research and development tax credit before adjourning for the holidays. It summarizes that the U.S. first adopted the R&D tax credit in 1981 to encourage domestic investment, innovation and jobs, but that over time the credit has slipped in effectiveness compared to other countries. Failing to renew the credit would discourage American companies from continuing to invest billions in domestic R&D and hiring researchers, while other nations use such incentives. Studies show expanding the credit could create thousands of new jobs and economic growth in the U.S. The CEOs urge Congress to provide business certainty by extending and expanding the R&D tax credit.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    of 2

    November 17, 2010

    Speaker Nancy Pelosi Senate Majority Leader Harry Reid


    U.S. Capitol, H-232 U.S. Capitol, S-221
    Washington, DC 20515 Washington, DC 20515

    Samuel J. Palmisano Republican Leader John Boehner Republican Leader Mitch McConnell
    IBM Corporation U.S. Capitol, H-204 U.S. Capitol, S-231
    TCC Chairman
    Washington, DC 20515 Washington, DC 20515
    Steve Appleton
    Micron Inc. Dear Speaker Pelosi and Leaders Reid, McConnell & Boehner:
    Greg Brown
    Motorola, Inc. We write to urge Congress to extend and expand the research & development
    tax credit before you adjourn for the holidays. Failure to pass this legislation will
    Michael Dell
    Dell Inc. undermine efforts to encourage domestic investment, innovation and high wage
    employment.
    Paul Otellini
    Intel Corporation
    As you know, the U.S. first adopted the R&D tax credit in 1981. For the past 29
    Mike Splinter years it has encouraged American companies to do more domestic research and
    Applied Materials, Inc.
    hire more scientists and engineers. Impressed by its effectiveness, other nations
    Joseph Tucci copied the legislation and introduced their own credits to attract investment to
    EMC Corporation their shores. Over time, the U.S. credit slipped from the world’s most effective to
    24th best, behind such nations as Japan, China, India and Korea. Today the U.S.
    credit is expired, for the 13th time in 29 years.

    As American companies we invest billions in domestic research and


    development collectively and intend to continue doing so as long as possible.
    But while other nations encourage innovators to hire more research and
    development staff in their markets, American policy makers effectively
    discourage such investments through their inaction and inconsistency.

    The R&D credit represents good and effective policy. A recent study by the
    Information Technology and Innovation Foundation found that increasing the
    Alternative Simplified Credit to 20% would lead to 162,000 additional jobs
    created or retained in America, $90 billion in additional economic output and a
    0.64% increase in annual productivity.

    We urge you to extend and expand the R&D Tax Credit. Doing so would provide
    businesses with certainty, preserve current jobs, and create new opportunities.
    We must not shortchange important investments in America’s future
    competitiveness.

    Sincerely,

    Samuel J. Palmisano Steve Appleton Greg Brown


    Chairman & CEO Chairman & CEO President & Co-CEO
    IBM Corporation Micron Technology, Inc. Motorola, Inc.
    Chairman, TCC
    Michael S. Dell Paul Otellini Mike Splinter
    Chairman & CEO President & CEO Chairman & CEO
    Dell Inc. Intel Corporation Applied Materials, Inc.

    Joseph Tucci
    Chairman, President & CEO
    EMC Corporation

    You might also like