AeA Commends Governor Schwarzenegger for Taking Action to Renew
California R&D Tax Credit

Sacramento, CA (May 14, 2008) – On Tuesday, Governor Schwarzenegger sent a letter to Congressional leadership, as well as the Chairs and Vice-Chairs of the House Ways and Means Committee and the Senate Finance Committee, urging them to renew and enhance the federal research and development tax credit. The credit, which Congress has now allowed to expire for the thirteenth time, is essential for maintaining global competitiveness and, as the Governor noted, is necessary to prevent other countries from drawing away high-paying research and development oriented jobs from our shores.

"I applaud the Governor for his efforts and for recognizing how vital the federal R&D credit is in remaining competitive in the global economy,” said Roxanne Gould, AeA’s Senior Vice President of State Government Affairs. “The federal credit, when available, is provided to encourage businesses to do their R&D in the United States. To that effect, the California credit is provided to encourage businesses to do their R&D in California. AeA strongly believes that both credits, working in concert, are why California has been the preeminent source for R&D within the United States and globally.”

Governor Schwarzenegger’s letter also elaborated on the importance of the credit in trying to establish a green economy and more green technology, essential for lowering business and consumer energy costs, and briefly addressed trying to fix the problem with the federal alternative minimum tax.

For more information on AeA’s state government affairs efforts in Sacramento, please visit www.aeanet.org/sacramento.


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About AeA
AeA, the nation’s largest technology trade association representing all segments of the high-tech industry, is dedicated solely to helping our members’ top line and bottom line. We do this in partnership with our small, medium, and large member companies by lobbying governments at the state, federal, and international levels, providing access to capital and business opportunities, and offering select business services and networking programs. For more information, please visit www.aeanet.org.

This page was last updated on 05/14/08.