Information Technology Industry Council (ITI) President and CEO Dean Garfield released the following statement this morning as ITI joins organizations to urge the House Committee on Ways and Means to preserve the all-inclusive nature of the research and development (R&D) tax credit:
"As the House Committee on Ways and Means looks to bring certainty to the tax code by making permanent some of the so-called “tax extenders,” ITI strongly urges the Committee to ensure the R&D tax credit continues to incentivize and reward all forms of domestic innovation, including software. The R&D tax credit is at the heart of innovation in America, and software is one of the most dynamic and rapidly growing areas of the economy. This credit has helped to ignite breakthrough innovations, making our manufacturing processes more efficient and changing the way we drive, bank, and manage our health and fitness. Most importantly, preserving a strong and inclusive R&D credit will continue to attract investment to the U.S. and create high-paying American jobs. We look forward to working with the Committee to achieve this goal."
The Information Technology Industry Council (ITI) is the premier advocacy and policy organization for the world’s leading innovation companies. ITI navigates the relationships between policymakers, companies, and non-governmental organizations, providing creative solutions that advance the development and use of technology around the world.
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