The Federal R&D Tax Credit expired at the end of 2007 and U.S. Sen. Max Baucus (D-Montana), chairman of the U.S. Senate Finance Committee, introduced a bill that would extend the tax credit effective the beginning of 2008 and make other changes that would overall improve the tax credit. For a look at the legislation <a href="http://thomas.loc.gov/cgi-bin/bdquery/z?d110:SN02886:@@@D&summ2=m&">click here</a>. This will redirect you to the Congressional Records website.
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However to date - almost five months into 2008 - the Federal R&D Tax Credit has not been renewed! It's time for the members of the New Jersey Technology Council to lend voices to the fight for this important legislation!
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<b>What You Can Do:</b>
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Copy and paste the letter below and either mail or fax it to Sen. Baucus, letting him know that the Federal R&D Tax Credit is crucial to the health of the U.S. economy.
<p>The Senator's fax number is (202)224-0515.
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Mailing Address:
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Senator Max Baucus
<br>Chairman, Senate Finance Committee
<br>511 Hart Senate Office Building
<br>Washington, DC 20510
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Dear Senator Baucus,
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I thank you for introducing Senate Bill 2886, your proposal to amend the Internal Revenue Code of 1986 (Alternative Minimum Tax and Extenders Tax Relief Act of 2008). I urge you to act as promptly as possible to post and pass this legislation that would extend the set of tax provisions that expired at the end of 2007 (and will expire at the end of 2008.) 
<p>As a member of the technology sector, I am troubled by the current impasse that is creating enormous difficulties across the nation, impeding economic activity and creating confusion in personal and business affaris. 
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A number of important tax provisions, such as like the Federal Research & Development (R&D) tax credit, have already expired. The Federal R&D tax credit provides a critically important boost to the technology sector in the United States.
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Not knowing whether the R&D credit will be extended makes it harder for companies of all sizes to manage their research budgets, and could even lead some companies to locate research projects in foreign countries with more attractive tax incentives. The impending expiration of renewable fuel and electricity incentives is stopping investment in critically important alternative energy projects. Failure to extend the New Markets Tax Credit this year will effectively reduce private investments in businesses and economic development projects in economically distressed areas.
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I urge you to expeditiously move Senate Bill 2886 to extend the R&D tax credit and other tax provisions which expired at the end of 2007 and are scheduled to expire at the end of 2008.
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Thank you for your consideration.
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Sincerely,