WASHINGTON (June 30, 2004) — The Motor & Equipment Manufacturers Association (MEMA) is urging Congress to restore a tax credit for manufacturing research and development that expires today.
Advanced vehicle safety technology development is very expensive, noted MEMA President Scott Meyer, and “the R&D credit helps to foster and expand this critical work.”
The House and Senate have already passed separate bills to extend the credit for 18 months, Mr. Meyer added, but the final legislation should contain the Senate-passed incentives for companies to perform research in the U.S.