Gillibrand stumps upstate for R&D tax credit
U.S. Senator Kirsten Gillibrand stopped in Binghamton today at the Broome County business incubator on a tour to promote a new version of the national research and development tax credit.
Gillibrand wants Congress, which has renewed the tax credit for investment in R&D 14 times, to make the tax break permanent. She also wants to see the tax simplified, to make it easier for companies to take advantage of.
"This is the number one request I got from growing, innovative businesses and technology companies," Gillibrand says.
According to the senator, the tax credit would help to achieve the goals outlined by President Obama in his State of the Union address of growing jobs in high-tech sectors of the economy.
The president said in his speech that “this is our generation's Sputnik moment.”
As we've noted before, the tax credit is expensive but Gillibrand took her message to several cities today, doing events in Binghamton, Watervliet (a suburb of Albany), Westchester and Long Island.