Let's Go Fishing: Pass the R&D Tax Credit Now

There's an old saying about fishing.  If you give a man a fish, he eats for a day.  If you teach him how to fish he eats for life.  The research and development tax credit is kind of like that story.  With the President's call for a permanent credit, it's clear that the Administration knows the difference between a meal and the food chain. 

“This is a tax credit that helps companies afford the often high costs of developing new ideas, new technologies, new products -- which means new jobs,” he said.  “And this tax incentive returns two dollars to the economy for every one dollar we spend. Time and again, I’ve heard from leaders -- from Silicon Valley to the Tech Valley -- about how important it is.”

Obama may not be a fisherman, but he has the right idea here.  It’s time for Congress to stop cutting bait and pass the R&D Tax Credit. Then we can all go fishing.