Counterpoint: R&D Tax Credit Spurs Innovation

The R&D credit is on the list of “extenders” that Congress should take up in the lame duck session before they adjourn in December. Earlier this year, Michael Rashkin wrote in EE Times that “The R&D credit doesn’t work” and advocated for its elimination. Let’s hope Congress ignores Rashkin’s advice. The R&D credit corrects a serious market failure and spurs U.S. companies to invest in more R&D, creating more jobs, more competitive firms and a stronger U.S. economy.