Foxx Votes to Make R&D Tax Credit Permanent
Statement
Issues: Taxes
Rep. Virginia Foxx, R-N.C., today voted in favor of legislation that would simplify and make permanent the research and development tax credit.
"For over 30 years, companies large and small have taken advantage of the R&D tax credit to foster innovation and keep America competitive. However, the uncertainty surrounding the credit's annual extension has ultimately restricted the amount of research and development that companies undertake," said Foxx "This legislation gives businesses the certainty they need to make long-term investment decisions and keeps North Carolina employers competitive in the global marketplace."
H.R. 880, the American Research and Competitiveness Act of 2015, passed the House by a vote of 274-145.
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