The Information Technology & Innovation Foundation (ITIF) yesterday released a report authored by John Lester and Jacek Warda, titled “Enhanced Tax Incentives for R&D Would Make Americans Richer.” The ITIF is a nonprofit, nonpartisan research and educational institute that focuses on technological innovation and public policy. The report explained that many countries seek to increase innovation and, therefore, provide tax support to companies to incentivize them to perform research and development (R&D). The report also explained that United States falls “behind comparable countries in the level of tax support it provides to spur research and development” and that increasing such tax support or incentives would likely result in a boost in “Americans’ real incomes through innovation, productivity, and competitiveness.”
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