Sat, Mar 12, 2011
Measure Should Stimulate Innovation, Create Jobs
GAMA said Thursday it welcomes the introduction of H.R. 942,
The American Research and Competitiveness Act of 2011. This
bipartisan bill will strengthen the research and development
(R&D) tax credit from 14 percent to 20 percent and make it
permanent. Representative Kevin Brady (R-TX) introduced the bill,
which was cosponsored by Representatives John Larson (D-CT), Eric
Paulson (R-MN) and Anna Eshoo (D-CA).
Clay Jones, chairman, president and CEO of Rockwell Collins
said, "Enactment of a strengthened, permanent R&D tax credit by
the 112th Congress will serve as a springboard for future economic
growth. Our nation must invest in the research, ideas and
people who produce innovation. This legislation will
encourage general aviation manufacturers to make long-term
investments, thereby allowing companies to be globally competitive
and create more U.S. jobs."
Cessna Aircraft Company's Jack Pelton, chairman, president and
CEO, also commented, "The pace of technological advancements in the
general aviation industry is continuous and R&D is essential
for manufacturers to produce state-of-the-art products that make
aviation safer. Modernizing, strengthening and making
permanent the R&D tax credit is vital to the future of our
industry as we all attempt to recover from the economic downturn
and diversify our products."
GAMA's President and CEO Pete Bunce concluded, "We appreciate
Representative Brady's leadership and the strong bipartisan support
of Representatives Larson, Paulson and Eshoo. As an industry
that relies on R&D, we strongly support this bill and urge
quick approval by Congress."
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