House Votes to Revive, Make Permanent Expired R&D Tax Credit

The House voted to revive the tax credit for corporate research, expand it and make it permanent.

The 274-131 vote May 9 follows calls to restore the credit by a coalition of companies including Texas Instruments Inc. and Eli Lilly & Co.

The measure (H.R. 4438) faces significant obstacles before it can become law, including a veto threat from President Barack Obama 90 DTR G-5, 5/9/14.

All except one Republican voted for the bill; Democrats were divided, with 62 in favor of it and 130 opposed.

The research and development tax credit was first enacted in 1981. Lawmakers said ...