Setti Warren on Corporations

Make R&D tax credit permanent; cut small business taxes

Here are some details of my pro-growth, pro-jobs agenda:
• Make the R&D Tax Credit Permanent and Refundable. Many small businesses are not eligible for the federal R&D tax credit because they have to be turning a profit to benefit. Making the R&D credit refundable would provide capital to research-centered, capital-intensive small businesses to make their technologies commercially-viable.
• I also believe we should attach "clawback" provisions or safeguards on all our investment and credit policies, to ensure that taxpayers share in the rewards when a breakthrough occurs and we hold companies accountable for their commitments.
• Cut Small Business Taxes. I favor eliminating capital gains taxes on investments made in small businesses, provided that the stock is held for a period of years.
• I also favor extending or expanding the $10,000 tax deduction for new entrepreneur's start-up costs. These steps should free up some capital for small businesses to start hiring and growing.