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HP Applauds the U.S. House for the Passage of an Enhanced
Research & Development Tax Credit
Statement by John Hassell, HP Director of Federal & State Government Affairs
For Immediate Release: December 8, 2005
“HP commends the U.S. House of Representatives for passing legislation today that will enhance and enrich the R&D Tax Credit. This important piece of legislation will ensure America’s high-tech companies can continue to remain innovative and competitive in today’s global marketplace.
“The current tax credit is the lowest among the United States’ major competitor countries and does not provide an effective incentive for United States based R&D.
“By passing the Alternative Simplified Tax Credit on a vote of 234-197, the House of Representatives is paving the way for HP and all of America’s research intensive companies to make additional research and development investments. These new incentives will restore the effectiveness of the R&D tax credit in the United States and ensure the credit is applied equitably, helping to keep highly-skilled jobs in the United States.
“HP strongly urges the House-Senate Conference to reach consensus soon so the Congress can enact law and continue its commitment to innovative research and development in the United States.”
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, 2005, HP revenue totaled $86.7 billion. More information about HP (NYSE, Nasdaq: HPQ) is available at http://www.hp.com.
© 2005 Hewlett-Packard Development Company, L.P.
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