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Congress Urged To Restore R&D Credit by NPES

Press release from the issuing company

July 1, 2004 -- With the research tax credit ("R&D credit"), set to expire June 30, NPES The Association for Suppliers of Printing, Publishing and Converting Technologies urges Congress to act quickly both to restore the credit and adopt modifications that will strengthen its incentive value. The cost of doing U.S.-based research for the nearly 16,000 companies that use the R&D credit, including NPES members, increases after June 30. In October, one of America’s premier trade show, GRAPH EXPO and CONVERTING EXPO , will once again debut major new technologies for the printing, publishing and converting industry. "New productivity –improving technologies are often the result of research and development that would not be possible without the R&D Tax Credit," said NPES President Regis J. Delmontagne. He stressed that "now is definitely not the time to turn off incentives for companies to stay on the cutting edge of technology as they compete in the global marketplace." "We are encouraged that both the House and Senate recently approved an extension of the credit, and we urge that final legislation should also include the Senate-passed modifications that strengthen the incentive value of the R&D credit to allow more companies to perform research activities in the United States," Delmontagne said. Growth in jobs and raising America’s standard of living depend on U.S.-based investments in research and innovation. The R&D credit is critical to the ability of businesses of all sizes to make those investments in the United States, particularly when many of America’s trading partners already provide richer R&D incentives. Congress must act quickly to restore seamlessly and strengthen this important tax credit.