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View Diary: Naked Capitalism: $205 billion in obscured corporate subsidies in Fiscal Cliff bill (updated) (195 comments)

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  •  The R&D and bonus depreciation have been fixture (5+ / 0-)

    extensions every year for decades.

      Center for American Progress says

    But eliminating the credit would mean eliminating a significant and effective incentive for R&D investment in the United States—at a time when other countries are strengthening their incentives to attract such investment and when such investment is increasingly mobile. Based on the research summarized in this report, we believe that this would be a policy error.

    In recent statements, the Obama administration has called for comprehensive corporate tax reform to lower the corporate tax rate and broaden the corporate tax base. But it has also stated that the corporate R&D tax credit should be retained, be made permanent, and be made more generous. We agree. Given the spillover benefits of R&D investment and its importance to economic growth, we believe that the tax incentives for such investment should be preserved and strengthened as part of broader corporate tax reform.

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