Congress extends R&D tax credit in bailout

The emergency $700 billion bailout bill includes some good news for biopharma companies. Congress extended the research and development tax credit by two years. The credit had expired at the end of last year.

"In today's challenging economic environment, R&D is a critical catalyst for American innovation, economic growth, and job creation," said the R&D Tax Coalition in a statement. "The R&D tax credit motivates U.S.-based companies to keep cutting-edge research projects in the United States while funding high wage and high skilled jobs for American R&D workers across diverse industries such as manufacturing, information technology, biotech, agriculture, aerospace and others."

- check out the story from IDG News

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