Majority Leader Kevin McCarthy, in a memo released May 1, lists the simplification and permanent extension of the Research and Development Tax Credit a top priority for Congress:
Innovation is essential to achieving and maintaining economic prosperity in this increasingly competitive world. Yet our place as the most innovative nation on earth cannot be taken for granted. We must stay focused on promoting growth and expanding opportunities for the next great idea. In that vein, we will start in May with what I hope will be an ongoing push towards advancing science and technology with consideration of: H.R. 880, the American Research and Competitiveness Act of 2015 (Brady) to simplify and make the research & development tax credit permanent.