U.S. Rep. Scott Peters (D-Calif.) has introduced H.R. 3757, legislation that would make the tax credit for research and development permanent. A current R&D tax credit is set to expire on Dec. 31 if Congress doesn’t extend the bill.

“Research and development are central to San Diego’s economy and our national economic recovery,” Peters said, in a statement. “If passed this legislation would grow the economy and create high-quality jobs in science and innovation around the country. It is time we provided our businesses and job-creators with the stability to plan and hire for the future.”

SDBJ Staff Report