Washington, D.C. (March 13, 2012) – Today Dean Garfield, President and CEO of the Information Technology Industry Council (ITI), issued the following statement after the Senate vote on the Roberts' amendment that included tax extenders.
“The American economy relies on research and innovation to stay ahead of the world. For many years, the federal government encouraged industries to stay on the cutting-edge with a tax credit for research and development. Yet, as we climb out of one of the worst recessions in our history, that provision and other key job-creating incentives have lapsed.
“Today, Senators from both parties supported a proposal that would have restored these tax incentives and helped to kick-start job creation. The research-and-development tax credit, the CFC look-through exception, and the active finance exception would keep American businesses competitive with rivals around the world. As the discussion moves forward, we hope that more Senators will come together quickly to approve these targeted, focused tax incentives to help American industry put American workers back on the job.”
The Information Technology Industry Council (ITI) is the premier voice, advocate, and thought leader for the information and communications technology (ICT) industry. ITI is widely recognized as the tech industry's most effective advocacy organization in Washington D.C., and in various foreign capitals around the world.