America’s lead in life sciences is being challenged. Other countries are aggressively seeking to attract and grow companies with innovation-based tax incentives, a range of firm-specific enticements, increased government research funding, improved IP protections, and streamlined regulatory approval processes. The federal government should act to ensure U.S. life sciences remain competitive.
Publications: Joe Kennedy
February 12, 2018
Life-sciences companies grow best in locations that can combine qualities like a good business environment, skilled workers, strong research universities, and available capital. Strengthening these and related factors can give states a stronger competitive advantage.
December 1, 2017
House and Senate tax bills currently favor individually owned “pass-through” companies, which make their owners a good living but don’t do much for net new job creation or overall growth. Lawmakers should focus more on tech-based startups that drive innovation and have much more long-term growth potential.
November 13, 2017
What could Republicans do to increase the chances of passing a good bill? They could focus principally on reforming the corporate tax code.
November 9, 2017
Republicans are neglecting those aspects of tax reform that are most closely linked to the investment and innovation that promotes growth – including the research and development tax credit.
October 26, 2017
The European Commission’s unilateral push to force EU member countries to collect steep taxes from U.S. companies will jeopardize efforts to negotiate better fixes for the international tax system.
October 9, 2017
Both the statutory and average effective tax rates for U.S. corporations are very high by global standards. But as Joe Kennedy writes in Morning Consult, for tax reform to be fully effective, it must do more than just lower the statutory corporate rate; it should lower the effective rate while moving to a territorial tax system.
July 27, 2017
It’s not cars, but freight transportation where there is the greatest near-term potential to reduce costs, increase efficiency, and improve safety—but only if regulators are careful to allow the technologies to progress, Joe Kennedy explains in Morning Consult.
July 5, 2017
Reducing or eliminating the R&D tax credit to “pay for” a lower corporate rate would be a serious mistake. To boost productivity and competitiveness, Congress should lower the corporate rate while expanding the research credit’s Alternative Simplified Credit from 14 to 20 percent.
June 12, 2017
Automating freight transportation can increase productivity and safety. Regulators should encourage technological advances by providing clearer standards.