WASHINGTON – The Information Technology Industry Council (ITI), the global voice for the tech sector’s leading companies, issued the following statement from President and CEO Dean Garfield commending members of the House of Representatives for passing H.R. 880, the American Research and Competitiveness Act of 2015:
“The United States was the first nation to develop an R&D incentive and it continues to pay dividends for our economy. Congress has an opportunity to ensure that we maintain our economic edge worldwide by improving the R&D tax credit and making it permanent. This bipartisan legislation passed by the House can help grow the American economy by increasing competitiveness, encouraging creativity and innovation, and creating jobs. We encourage the Senate to move similar legislation aimed at igniting the next wave of American innovation and economic growth.”
ITI is the only tech trade group to score votes for the technology industry, and earlier this week, it sent a letter to the House of Representatives indicating that it considers the legislation a key vote and urging lawmakers to pass the bill. The R&D tax credit is a top priority for the tech industry, as it will help businesses compete in the global marketplace of the 21st century. Leading companies in the technology sector also recognize that passing this legislation is an important component to simplify and modernize our outdated tax code.
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