Tax Credit Extension Is Silver Lining for Science

摘要

Last week's $700 billion rescue package for U.S. financial institutions also lends a hand to high-tech companies by extending and expanding a tax credit for investing in research. The research credit was part of a cluster of tax measures grafted onto the rescue plan at the last minute to entice U.S. House of Representatives members who had rejected the bailout 4 days earlier. It provided some consolation for science lobbyists disappointed that Congress had wiped out proposed increases for several research agencies when it passed a 6-month freeze on federal spending before recessing for the 4 November election. Although the U.S. Senate will return next month for a brief lame-duck session, the House currently has no plans to do likewise.