HP Welcomes Bipartisan Senate Action on the R&D Tax Credit, Urges House to Follow Suit
Statement by David Isaacs, director, Government Affairs, HP
PALO ALTO, Calif., September 23, 2008 – “Senate passage of the R&D tax credit extension in H.R. 6049, the tax extenders bill, marks an important milestone on the road to rebuilding a true “innovation economy.” It sends a strong signal that the United States is committed to encouraging investment in new technologies.
“Senate Majority Leader Harry Reid, Minority Leader Mitch McConnell and Senators Max Baucus and Charles Grassley should be congratulated for forging today’s bipartisan compromise. HP urges the House to follow the Senate’s lead, and pass the extension package as soon as possible.
“The next step is for Congress to make the credit stronger and permanent. This will give companies the stability they need to plan future investment in R&D in America. The key to economic growth is innovation, which allows the economy to adapt, expand and ultimately prosper. In difficult economic times, it is particularly important to focus on enacting innovation public policy to promote economic growth for the long run. Making the R&D tax credit stronger and permanent will help companies drive innovation in America, and lay the groundwork for an innovation economy for the future.”
HP, the world’s largest technology company, provides printing and personal computing products and IT services, software and solutions that simplify the technology experience for consumers and businesses. HP completed its acquisition of EDS on Aug. 26, 2008. More information about HP (NYSE: HPQ) is available at http://www.hp.com/.
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