I introduced bipartisan legislation, the American Innovation and Jobs Act, to support research and development (R&D) investments by innovative companies across Indiana and the United States.
Maintaining and encouraging R&D activities here in the United States is critical to providing high-quality jobs for Americans and ensuring our country remains competitive with our international rivals, most notably China. This legislation must be passed if we want to outcompete and out-innovate the Chinese Community Party.
Currently, businesses and startups investing in R&D can claim tax incentives that help them to invest in developing new, innovative products that lead to additional jobs and a stronger economy. My legislation builds on this by expanding the refundable R&D tax credit for small businesses and startups and ensuring that businesses can once again fully deduct R&D expenses each year.
Read more about this important effort here. |