WASHINGTON-The Telecommunications Industry Association urged Congress to support legislation extending and strengthening the research and development tax credit.
The R&D credit is due to expire June 30. TIA said it is concerned that the telecom industry and others will suffer if the credit is not extended immediately.
“Now, more than ever, it is critical that Congress demonstrate to the U.S. business community its commitment to keeping research and development here at home,” said TIA President Matthew Flanigan. “The telecommunications industry is one that depends on long-term research to support its future, and we believe the credit is a key ingredient to our industry’s success.”
Congress has extended the R&D credit 10 times since its enactment in 1981.
