President Signs Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act

Date: 
Friday, December 17, 2010

The President signed into law the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act. The tax package includes a two-year extension of the R&D tax credit (retroactive to January 1, 2010, through 2011). NSPE is a member of the R&D Credit Coalition, a group of more than 275 trade and professional associations and companies of all sizes that collectively represent millions of American workers engaged in U.S.-based research throughout major sectors of the economy, including aerospace, agriculture, biotechnology, chemicals, electronics, energy, information technology, manufacturing, medical technology, pharmaceuticals, software, and telecommunications. The objectives of the coalition are a strong, permanent R&D credit of commensurate rate for all companies; a 20% simplified credit; and an extension of the traditional credit.