At a Senate Finance Committee hearing September 20, witnesses contended that unless the research and development tax credit is made permanent, it would be marginally effective, not spur new research and developments, nor have a major impact on the economy. The hearing came one day after Chairman Max Baucus (D-MT) and ranking member Orrin Hatch (R-UT) introduced the Greater Research Opportunities with Tax Help Act of 2011 (S. 1577), which would simplify and raise the value of the credit while allowing the traditional credit to expire and making the new credit permanent.