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HP Applauds Sen. Baucus for R&D Tax Credit Reform Legislation
Statement by Dan Kostenbauder, HP Vice President, Transaction Taxes
For Immediate Release: December 8, 2006
“HP commends Senate Finance Committee Chairman Max Baucus (D-MT) for his continued leadership to create strong incentives for companies to conduct research and development in the United States.
“The Research Competitiveness Act of 2007 (S.41) introduced on January 4 by Chairman Baucus will provide a meaningful research and development tax credit for companies like HP that are committed to long-term, U.S.-based technology innovation. This important piece of legislation will help ensure that America’s high-tech companies can continue to remain innovative and competitive in today’s global marketplace.
“Further, Chairman Baucus’ proposal will modernize the R&D tax credit, restore its effectiveness and provide a more predictable incentive to companies to make additional R&D investments in the United States by making the credit permanent. The Baucus bill is the logical next step to make stronger the recently enacted provisions in the Tax Relief and Health Care Act of 2006, which extended and enhanced the R&D tax credit.
“HP strongly urges Senators to support the additional reforms proposed by Chairman Baucus and looks forward to working with the Congress to enact legislation that further modernizes the tax credit to ensure American innovation and competitiveness.”
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 Oct. 31, 2006, HP revenue totaled $91.7 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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