FOR IMMEDIATE RELEASE
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Permanent R&D Tax Credit is Critical for US Tech Leadership in Global Markets
Arlington, Va. – (December 18, 2015) The Telecommunications Industry Association (TIA), the leading association representing the manufacturers and suppliers of high-tech communications networks, today commended lawmakers for passing legislation to address expiring tax credits and to make permanent the Research and Development Tax Credit.
TIA CEO Scott Belcher issued the following statement on the tax credit and on the cybersecurity measures in the "omnibus" end-of-year legislation:
“TIA and its member companies have been fighting for a permanent R&D tax credit because it will provide U.S. companies certainty as they compete in the increasingly challenging global market. Together with the extension of the bonus depreciation tax credit, this action by Congress is important for facilitating investment in leading-edge research and in the deployment of the nation’s digital infrastructure.
“The bill passed by Congress also takes steps to mitigate cyberattacks and support businesses’ efforts to protect consumers. Providing liability protections will ensure that, as the number and diversity of cyber threats continue to increase, industry and government partners are able to share timely and critical cybersecurity information. We thank the House and Senate leaders of the Homeland Security and Intelligence Committees for their diligent efforts on this important legislation.”
The Telecommunications Industry Association (TIA) represents manufacturers and suppliers of global communications networks through standards development, policy and advocacy, business opportunities, market intelligence, and events and networking. TIA enhances the business environment for broadband, mobile wireless, information technology, networks, cable, satellite and unified communications. Members' products and services empower communications in every industry and market, including healthcare, education, security, public safety, transportation, government, the military, the environment, and entertainment. Visit tiaonline.org for more details.
TIA is accredited by the American National Standards Institute (ANSI), and is a proud sponsor of ANSI’s Standards Boost Business campaign. Visit www.standardsboostbusiness.org for details.