Members of Congress Listen to IPC Members and Pledge Their Support of Important Legislation

As a result of member lobbying during IPC Capitol Hill Day last month, three members of Congress have recently pledged their support of a H.R. 422, a permanent research and development (R&D) tax credit bill. IPC members Hunter Technology and OneSource Group met with their elected officials and successfully delivered the message that a permanent R&D tax credit is needed now. Rep. Honda (CA-15), Rep. Johnson (TX-30) and Rep. Johnson (TX-3) were so moved by the need for a permanent R&D tax credit that they have added their names as co-sponsors in support of H.R. 422. The Senate bill S. 1203, was introduced on June 8, 2009. Both the House and Senate bills would increase and make permanent the Alternative Simplified Credit (ASC) R&D tax credit. R&D is critical to companies in advancing technology, growing a business, and diversifying a product line.

IPC members were also successful in advocating the importance of expanding Net Operating Loss (NOL) tax relief to companies of all sizes and extending NOL relief to 2009. NOL is a special tax relief that allows businesses to offset one year’s losses against another year’s income. IPC member Vulcan Flex Circuit Corp. persuaded Sen. Gregg (R-NH) and Rep. Hodes (NH-2) to add their names as co-sponsors to NOL relief bills, Senate bill S. 823 and House bill H.R. 2452, respectively. The NOL relief bills would expand current law to include companies of all sizes and extend the NOL benefit through 2009.

Write a letter to your member of Congress in support of these important issues! By taking action, you can influence your legislators on issues that benefit your business and the industry. Sample letters on a permanent R&D tax credit and NOL relief are posted on www.ipc.org/R&DCredit and www.ipc.org/net-operating-loss. If you don’t know how to contact your legislator, we have posted easy instructions to help you contact your elected officials. To achieve the best possible outcome for your company and the industry, it is important that you are active participants in legislative matters and not remain on the sideline.

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