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House OKs permanent research tax credit

July 1st, 2014 / By: / Industry News

The U.S. House of Representatives voted in May to make permanent a tax credit that rewards businesses for investing in research and development, adding $156 billion to the budget deficit over the next decade. The tax credit had expired at the beginning of the year. The bill passed by a vote of 274 to 131, with 62 Democrats joining nearly every Republican in support.

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