McCaul Gains Bipartisan Support to Reinstate R&D Tax Credit

Congressman Michael McCaul (R-TX) along with Congresswoman Anna Eshoo (D-CA), Co-Chairs of the House High Tech Caucus, have collected more than 100 members’ signatures on a joint letter supporting efforts to include the R&D Tax Credit as part of any economic recovery legislation that Congress considers. The R&D credit expired at the end of 2009. The letter and list of signatures collected as of Friday morning are attached.

Congressman McCaul seeks to make the R&D credit permanent in order to help businesses with their planning and projections. He also seeks to simplify the credit making it easier for businesses to understand what they qualify for, without having to hire tax lawyers and other consultants.