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PMA Applauds Levin/Camp Legislation
to Permanently Extend R&D Tax Credit

PMA Applauds Levin/Camp Legislation
to Permanently Extend R&D Tax Credit

Friday, May 4, 2007
 
Precision Metalforming Association (PMA) president William E. Gaskin voiced strong support for the Investment in America Act of 2007, legislation introduced yesterday (May 3) in the House of Representatives to permanently extend the Research and Experimentation Tax Credit to support research and development expenditures incurred in the United States. The legislation was introduced by Rep. Sander Levin (D-MI) and Rep. Dave Camp (R-MI). “Reps. Levin and Camp once again showed their commitment to maintaining a strong manufacturing sector in this country, by introducing the Investment in America Act of 2007,” says Gaskin. “This bill will help keep manufacturing in the United States. With a permanent R&D tax credit, companies can develop long-term R&D strategies and budgets. We strongly urge Congress to support U.S. manufacturers by passing this important legislation.” The Levin/Camp bill strengthens the R&D Tax Credit by increasing the rate for the Alternative Simplified Credit (ASC) to 20 percent from 12 percent, removing the Alternative Incremental Research Credit, and making these tax credits permanent. For more information, visit www.metalformingadvocate.org or contact George Felcyn at 202/466-6210, george.felcyn@pbnco.com.

 

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