From: The Honorable Scott H. Peters
Sent By:
lumay.wang@mail.house.gov

Date: 12/12/2013

LAST CALL TO COSPONSOR
The R&D Tax Credit is expiring for the 16th time!!
Please support strengthening and renewing it.
CLOSING AT NOON TODAY
Current cosponsors: Honda, DelBene, P. Murphy, Lofgren
Dear Colleague:
At the end of this year, the R&D Tax Credit will expire for the 16th time.
This tax credit is the primary way we incentivize the private sector to invest in research and development, and it is one of the most important ways we maintain our innovation-based competitive edge. It provides organizations an important tax reduction for
qualified research expenses. Companies of all sizes use the tax credit, and 70 percent of credit dollars go towards high-skilled R&D salaries. It’s a highly effective credit that creates jobs and spurs innovation.
Please join me in fixing this problem by cosponsoring the Igniting American Research Act. This legislation would extend the R&D tax credit, make permanent the Alternative Simplified Credit (ASC) and increase it to 20 percent, and encourage
more collaborative energy and biotechnology research. The Information Technology & Innovation Foundation recently estimated that increasing the ASC to 20 percent would not only create at least 162,000 jobs but also increase our GDP by $66 billion.
In a competitive international economy, we must make sure that we are providing the right environment for American innovators, researchers, and entrepreneurs. We currently rank 27 out of 42 countries in terms of R&D tax incentive generosity.
If you would like to cosponsor the Igniting American Research Act, please contact Lumay Wang (lumay.wang@mail.house.gov).
Sincerely,
SCOTT PETERS
Member of Congress

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