Today, by a vote of 274-131, the House passed H.R. 4438, the "American Research and Competitiveness Act of 2014." The bill would cost $156 billion over 10 years and is not offset.
Ways and Means Committee Chairman Dave Camp (R-MI) issued the following statement: “Short-term tax policies aren’t helping businesses hire new workers or grow the economy. It is time for some permanency and stability in the tax code. Let’s be honest with the American people and the businesses and workers who rely on this credit – it is here to stay. The R&D credit has broad bipartisan support and the Senate should take up this bill that actually strengthens the economy and helps hardworking taxpayers.”