Patty Murray's Washington View

PATTY MURRAY'S WASHINGTON VIEW

U.S. Senator Patty Murray's Weekly Report to the People of Washington - March 5, 2004

Keeping American Jobs Here at Home

On Wednesday, an amendment that I introduced with Senator Orrin Hatch (R-Utah) to help keep good paying American jobs from moving overseas passed the Senate with no opposition. My amendment extends the Research and Development Tax Credit by 18 months. Without my amendment, this critical business incentive to keep jobs here at home would have expired at the end of June.

In Washington state, we have all felt the impact of a struggling economy and jobs moving overseas. But, we can put people back to work, and my tax credit is a great start. The credit gives companies an incentive to conduct their R&D in the United States at a time when foreign trading partners offer strong incentives to encourage companies to move their R&D work outside of the U.S.

About the Research and Development Tax Credit:

•The credit is only available for R&D performed in the United States.

•The credit is targeted almost exclusively at wages and salaries paid to employees engaged in direct U.S.-based R&D. This promotes the creation of new, high-skilled jobs in the United States.

•The credit will make American companies more innovative and competitive in the global marketplace.

My tax credit extension will help our technology sector, our manufacturing sector, and our workers. Now we need the House of Representatives to follow suit.

After the vote, business leaders from Microsoft, Boeing and TechNet applauded my amendment as a step forward for jobs here in Washington.

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