Most recently on Friday, May 9th The U.S. House of Representatives voted 274-131 to reinstate the Research and Experimentation Tax Credit (hereinafter "RTC") under Sec. 41 of the Code which recently expired on December 31, 2013.

The bill now heads back to the Senate, where lawmakers are taking a different approach. The difference between the House and Senate may take weeks, if not months, to resolve. Noting, instead of separate votes to make individual tax benefits permanent, the Senate Finance Committee last month backed a single measure extending the RTC and dozens of other tax extenders through the end of 2015. The House bill is scheduled to reach the Senate Floor this week and I will continue to provide legislative updates from the Hill.