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Foxx Votes to Make R&D Tax Credit Permanent
Washington,
May 20, 2015
WASHINGTON – 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. U.S. Rep. Virginia Foxx represents North Carolina’s 5th Congressional District and is the elected Republican Conference Secretary. Dr. Foxx is the chair of the House Education and the Workforce Subcommittee on Higher Education and serves as Vice Chair of the House Rules Committee. |