NADCA applauds passage of R&D Tax Credit bill.
Press Release Summary:
May 21, 2014 - NADCA applauded passage by U.S. House of Representatives of bill making the Research and Development Tax Credit permanent. Sponsored by Reps. Kevin Brady (R-TX) and John Larson (D-CT), bill passed by vote of 274-131. NADCA and its members invest heavily in research and development to create new technologies and processes for lightweight applications, improving energy efficiency, and reducing lead times for procuring latest technologies.
Original Press Release
NADCA Applauds Passage of R&D Tax Credit Bill
Press release date: May 14, 2014
NADCA Applauds U.S. House Passage of Bill Making R&D Tax Credit Permanent
Washington, D.C. – The North American Die Casting Association (NADCA) applauded passage by the U.S. House of Representatives of a bill making the Research and Development Tax Credit permanent. The bill, sponsored by Reps. Kevin Brady (R-TX) and John Larson (D-CT), passed on May 9 by a vote of 274-131; with 62 Democrats joining 212 Republicans to vote in favor of the measure.
“This is an important step in the right direction towards providing some stability in the tax code for manufacturers,” said NADCA President Dan Twarog. “We applaud those Representatives who voted for this important bill. NADCA members invest heavily in R&D and have to plan their business strategy well in advance. However, Congress must still press forward with a comprehensive reform of our tax code to improve our nation’s competitiveness. “
Die casting companies are among the most research intensive in the manufacturing sector. NADCA and its members invest heavily in research & development to create new technologies and processes for lightweight applications, improving energy efficiency, and reducing the lead times for procuring the latest technologies.
Since the early 1990’s, NADCA has managed and coordinated over 90 high performance alloy, die material, modeling and energy efficiency R&D projects totaling $48 million with government agencies, universities, national laboratories, and industry. Working with established partners, NADCA is the leader in die casting process technologies, cast materials, die materials and coatings, die casting related energy and environmental technology, and technology transfer. NADCA developed a Strategic Plan and Road map, which includes 14 active projects and a proven track record where industry contributed matching in-kind contributions in excess of $40M on previous projects. Many of these projects utilize the R&D tax credit to help ensure they have the resources necessary to develop the latest technologies.