On May 20, the House of Representatives approved the American Research and Competitiveness Act of 2015 (H.R. 880), bipartisan legislation that would strengthen the R&D tax credit and make it permanent. SIA applauds House passage of this needed legislation and urges the Senate to swiftly approve it as well.
No industry has a greater commitment to research and development than the semiconductor sector. Semiconductor companies invest about one-fifth of revenues each year in R&D – the highest share of any industry. These investments have helped the U.S. semiconductor industry sustain the pipeline of new discoveries that fuel our industry and the overall economy. The R&D credit is a critical incentive for companies to continue performing cutting-edge research in the United States and create jobs, since 70 percent of credit dollars are used to pay salaries of high-skilled R&D workers in the U.S.Read More