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HP Praises High-Tech Working Group
Efforts on R&D Tax Credit to Boost U.S.
Competitiveness
Statement by John Hassell, HP Director of Federal & State Government Affairs
Released March 1, 2006
HP commends Speaker Dennis Hastert, Chairman Bob Goodlatte
and the High-Tech Working Group for highlighting the
importance of expanding the Research & Development Tax
Credit as part of the American Competitiveness Initiative.
Simply put, without research, there’s no innovation; and without
innovation, American businesses and their workers cannot
remain competitive in the global marketplace.
The current tax credit is the lowest among the United States’
major competitors and doesn’t provide an effective incentive for
U.S. based R&D. By expanding the R&D Tax Credit, Congress
can promote a truly public-private partnership in restoring the
effectiveness of the R&D Tax Credit and provide a key incentive
for America’s research intensive companies to move forward in
their labs.
Make no mistake, emerging countries, like India and China, are
making significant strides with cutting-edge research and
technological developments. If lawmakers fail to act, our
competitors will take advantage of this uneven playing field
which ultimately will undermine America’s economic security.
HP looks forward to working across party lines to make this
policy priority a legislative reality.
As the High-Tech Working Group has wisely proposed, by
enhancing the Research & Development Tax Credit and
increasing investments in education and technology, the United
States will have sound policies in place to continue its tradition
of a highly trained workforce and innovative leadership well into
the 21st Century.
About HP
HP is a technology solutions provider to consumers, businesses and institutions globally. The
company’s offerings span IT infrastructure, global services, business and home computing,
and imaging and printing. For the four fiscal quarters ended Jan. 31, 2006, HP revenue
totaled $87.9 billion. More information about HP (NYSE, Nasdaq: HPQ) is available at http://www.hp.com.
© 2006 Hewlett-Packard Development Company, L.P.
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