Make Permanent the Research and Development Tax Credit

Floor Speech

(Mr. WALBERG asked and was given permission to address the House for 1 minute.)

Mr. WALBERG. Madam Speaker, in my home State of Michigan, we have hit some hard times, and recently things have become worse as Michigan's Governor and tax-hiking State legislators inflicted a massive tax increase on the people of Michigan.

While in Congress, I am going to do all I can to aid Michigan's comeback, providing incentives for manufacturers and their employees to innovate, grow and expand. For example, American auto manufacturers spend $20 billion a year on research and development, and such investment and innovation among American automakers should be encouraged.

One positive step Congress can immediately take to continue similar innovation is to make permanent the research and development tax credit. This legislation would keep high-tech, high-paying jobs in America by maintaining important incentives and enable American companies to grow, become more competitive globally, and ultimately result in additional high-paying American jobs.

I urge my colleagues to support H.R. 2138, the research and development tax credit, and encourage further investment and growth in our great Nation.

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