Tax Reform Should Expand R&D Tax Credit

For over a decade, Republicans have emphasized fundamental tax reform as a way to promote economic growth. However, as Joe Kennedy writes for Real Clear Policy, 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. The Alternative Simplified Credit, which most companies use, should be increased from its current value of 14 percent to 20 percent of qualified research expenditures.