Hillary Proposes to Increase the Federal R&E Tax Credit

Hillary Clinton unveiled her plan to increase the federal research and experimentation tax credit.  The summary of the proposal is as follows:

• Enacting the Largest Expansion of Tax Benefits for Research and Job Growth in a Generation: Increase the existing R&D credit by 50% and create a new 40% R&D credit for basic research. These steps will reward high-wage job growth in the U.S. and help make U.S. manufacturers and research companies more globally competitive.
• Creating New High Tech Jobs With at Least 15 New Innovation and Research Clusters Across the U.S.
• Launching a New Insourcing Markets Tax Credit to Spur Business Investment in Communities Facing Global Competition.
• Catalyzing a 21st Century Manufacturing Sector with a New MARPA-Research Program, a Green-Manufacturing Extension Program and Made Green in America Fund: These initiatives will help small- and medium-sized manufacturers prosper, including in new renewable and clean energy markets.