U.S. Senator Chris Coons (D-Del.), leader of the Senate’s Manufacturing Jobs for America initiative, and Senator Pat Roberts (R-Kan.) introduced bipartisan legislation on January 14th to enhance incentives for private firms to invest in research and development within the United States and its possessions (e.g., Puerto Rico and Guam). The Innovators Job Creation Act would help startups and other small companies take full advantage of the Research and Experimentation Tax Credit (hereinafter “RTC”) pursuant to I.R.C. § 41 that are currently unavailable to them based upon the current statute.
“Research and development is the lifeblood of great American companies, turning ideas into innovations that grow businesses and create good manufacturing jobs here at home,” U.S. Senator Chris Coons (D-Del.) said. “If we want to strengthen our Read More